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Thomson Reuters
Mar 08 - 03:48 AM
EUR/USD's 2Nd Biggest 2019 Daily Drop Breaks Long-Term Fibo
First appeared on eFXplus on Mar 08 - 02:15 AM
  • On Thurs EUR/USD registered the second biggest one-day fall of 2019 so far
  • The drop breached a huge long-term 1.1187 Fibonacci level
  • The 1.1187 Fibo is 61.8% of 1.0340 to 1.2556 (2017 to 2018) EBS rise
  • A close below 1.1187 Fibo at the end of this week would be an ominous sign
  • That would indicate that the medium-term downside risk has increased
  • We are looking to get short on recovery attempts to 1.1280

EUR/USD Trader:

Weekly Fibo Chart: Click here

Daily Ichimoku Chart: Click here

Source:
Thomson Reuters IFR Markets

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