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