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Thomson Reuters
Apr 01 - 05:00 AM
EUR/USD's Downside Risk Grows With Another Close Below Key Fibo
First appeared on eFXplus on Apr 01 - 02:55 AM
  • EUR/USD bearish bias grows after two daily closes below the 1.1241 Fibo
  • The 1.1241 Fibo is a 76.4% retrace of the 1.1177 to 1.1448 (EBS) rise
  • Scope grows for a drop to the 1.1177 2019 low in coming sessions
  • Offer lowered to 1.1280, expectation last Wed's 1.1285 high will cap
  • Failure to register further closes sub 1.1241 will warn of a likely recovery
  • EUR/USD's close below Fibo increases odds of a 2019 low retest nL1N21G04U

EUR/USD Trader:

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Source:
Thomson Reuters IFR Markets

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