Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Nov 03 - 04:55 AM

EUR/USD - Triple Failure And Thick Daily Cloud Limits The Upside

By Martin Miller  —  Nov 03 - 03:30 AM
  • EUR/USD failed above 1.0643 Fibo, setting up a "bull trap", three times

  • It failed on Oct 24, 31 and also Nov 2 = a very bearish sign

  • 1.0643 Fibo is a 23.6% retrace of the 1.1276-1.0448 (July-October) EBS drop

  • We remain short at 1.0660 in anticipation for eventual losses

  • Especially as thick falling daily cloud, that spans 1.0665-1.0859 weighs

  • However, the long tail on Wed's candle means bears need to be cautious

  • EUR/USD Trader TGM2334. Previous update nL1N3C30J5

  • Dollar's fate could be tied to Friday's U.S. jobs data nL1N3C30W2

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2023 eFXdata · All Rights Reserved
!