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Jun 29 - 03:55 AM

EUR/USD's Latest Slide Likely To Extend Deep Under Key Fibo

By Martin Miller  —  Jun 29 - 02:35 AM
  • EUR/USD's recent recovery attempts seem to have failed: bearish

  • The current slide looks set to break under the 1.0457 Fibo

  • 1.0457 Fibo is a 61.8% retrace of the 1.0359 to 1.0615 recovery move

  • A daily close under the 1.0457 Fibo would weaken spot further

  • That would lead to an eventual break under the 2022 1.0349 (EBS) low

  • We are short at 1.0550 for losses to our 1.0360 target, stop is at 1.0645

  • EUR/USD Trader TGM2334. Previous EUR/USD update nL1N2YF0E0

Source:
Refinitiv IFR Research/Market Commentary

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