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Sep 07 - 03:55 AM

EUR/USD - Beware EUR/USD Bears Need To Overcome Major Fibo Support

By Martin Miller  —  Sep 07 - 02:50 AM
  • EUR/USD's overall bias is for a slump through the May 1.0635 (EBS) low

  • However, beware major 1.0669 Fibo support needs to be overcome first

  • 1.0669 Fibo is a 76.4% retrace of the 1.0482 to 1.1276 (2023) rise

  • 14-day momentum remains negative, reinforcing the overall bearish bias

  • We are looking to get short at 1.0770

  • EUR/USD Trader TGM2334. Previous update nL1N3AI0F2

Source:
Refinitiv IFR Research/Market Commentary

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