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Feb 09 - 03:55 AM

EUR/USD - Bears Need To Overcome Key Fibo Support, Soon

By Martin Miller  —  Feb 09 - 02:45 AM
  • EUR/USD drop paused and found support ahead of a 1.0712 Fibo

  • Those that a bearish need a break and daily close under 1.0712 Fibo

  • 1.0712 Fibo, a 61.8% retrace of the same 1.0448-1.1139 (EBS) rise

  • 14-day momentum remains negative, reinforcing the bearish outlook

  • Note daily tenkan and kijun lines are negatively aligned

  • We are short at 1.0850 for 1.0695 target, our trailing stop is at 1.0790

  • EUR/USD Trader TGM2334. Previous update nL1N3ET0ML

  • Dollar could be on the verge of much bigger gains nL1N3ET0Y4

Source:
Refinitiv IFR Research/Market Commentary

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