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Feb 05 - 05:55 PM

EUR/USD - Short Holds December Low, Fibo So Far, But Bearish Case Is In Place

By Randolph Donney  —  Feb 05 - 03:00 PM
  • EUR/USD short so far holds Dec's 1.0723 lows

  • But prices are bearishly below the 100-DMA and daily cloud base

  • Those are now resistance at 1.0773/828

  • Falling tenkan is also at the cloud base and well below kijun

  • Prices also nearing 61.8% of the Oct-Dec rise at 1.0712

  • The 1.0695 target requires a break of that and Dec low supports

  • Might adjust exits if the next probe lower holds above 1.07

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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