Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Jul 21 - 03:55 AM

EUR/USD - Bulls Beware The Chart Hints At A New Market Top

By Martin Miller  —  Jul 21 - 02:15 AM
  • Wednesday's 1.0273 (EBS) high could be a new market top

  • Bulls received a boost when EUR/USD broke and closed above 1.0149 Fibo

  • 1.0149 Fibo is a 23.6% retrace of the 1.0787 to 0.9952 drop

  • However, Wed's failure near the 1.0271 Fibo puts a bigger recovery in doubt

  • 1.0271 Fibo is a 38.2% of the same 1.0787 to 0.9952 fall

  • 14-week momentum is negative, highlighting the underlying bear market

  • As does the negative alignment of the tenkan and kijun lines

  • EUR/USD Trader TGM2334. Previous EUR/USD update nL1N2Z10D9

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2022 eFXdata · All Rights Reserved
!