By Martin Miller — Feb 03 - 04:46 AM
• EUR/USD downside risk grows, there is scope for a bigger drop to parity
• It could even probe 0.9941 Fibonacci level
• 0.9941 Fibo is a 76.4% retrace of the 0.9528 to 1.1276 (2022-2023 EBS) rise
• 14-week momentum remains negative, reinforcing the overall bearish market
• A break above Dec. 17 1.0535 high would shift the bias back to the upside
• EUR/USD Trader . An offer is now at 1.0400
Weekly Chart:
(Martin Miller is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters