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Feb 21 - 02:55 AM

EUR/USD's Downside Should Be Limited By Thick Cloud Support

By Martin Miller  —  Feb 21 - 02:05 AM
  • EUR/USD's large lower shadow on Friday's candlestick line, a bullish sign

  • A large lower shadow is seen as a possible rejection of the downside

  • Scope for gains through 1.0712 Fibo, a daily close above would accelerate

  • 1.0712 Fibo is a 23.6% retrace of the 1.1034 to 1.0613 recent fall

  • The thick daily cloud, that now spans the 1.0386-1.0678 region, underpins

  • EUR/USD Trader TGM2334. Previous update nL1N34Z0GM

Source:
Refinitiv IFR Research/Market Commentary

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