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Sep 06 - 06:12 AM
EUR/USD's Failure Above Key Fibo Give Bears A Fighting Chance
First appeared on eFXplus on Sep 06 - 03:10 AM
  • EUR/USD doji on Thursday's candle, open near close, highlights indecision
  • Spot broke, but failed to register a daily close above the 1.1049 Fibo
  • 1.1049 Fibo is a 38.2% of the 1.1249 to 1.0926 (August to September) drop
  • Spot wilted ahead of the 1.1088 Fibo, which is 50% of the same fall
  • These failures increase the near-term underlying reversal risk
  • We are long at 1.0975 for 1.1095 target, our trailing stop is at 1.1015

EUR/USD Trader:

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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