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Dec 01 - 04:55 AM

EUR/USD - Chart Shows Spot "Stuck Between A Rock And A Hard Place"

By Martin Miller  —  Dec 01 - 03:10 AM
  • EUR/USD's outlook is mixed, market stuck between a rock and a hard place

  • Long upper shadow on Monday's candle is a sign the upside has been rejected

  • However, the market has since found support ahead of 1.0268 Fibo Wednesday

  • 1.0268 Fibo is a 23.6% retrace of the 0.9528 to 1.0497 (Sept to Nov) rise

  • On balance, we expect gains as fourteen-day momentum remains positive

  • However, watch this reading as it could turn negative in coming sessions

  • EUR/USD Trader TGM2334. Previous update nL1N32Q0FZ

Source:
Refinitiv IFR Research/Market Commentary

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