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Jan 18 - 05:55 AM

EUR/USD - Negative, But Thick Cloud Support Is A Danger To Bears

By Martin Miller  —  Jan 18 - 03:35 AM
  • EUR/USD bearish as 14-day momentum remains negative

  • There is scope for eventual losses to test the 1.0794 Fibo

  • 1.0794 Fibo is a 50% retrace of the 1.0448-1.1139 (Oct-Dec) EBS rise

  • Beware that the widening cloud, as it could well limit the downside

  • The daily cloud currently spans the 1.0735-1.0852 region

  • EUR/USD Trader TGM2334. Previous update nL1N3E60IS

  • FX traders should insure against a bigger EUR/USD slump nL1N3E70Z4

Source:
Refinitiv IFR Research/Market Commentary

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