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Oct 16 - 05:55 AM

EUR/USD - Chart Points To An Even Bigger Slide

By Martin Miller  —  Oct 16 - 03:40 AM
  • EUR/USD continues trading below the daily cloud, that is bearish

  • The Ichimoku cloud currently spans the 1.0956-1.1060 region

  • On Monday spot crashed below 1.0908 Fibo, it closed below it on Tuesday

  • 1.0908 Fibo is a 50% retrace of the 1.0602-1.1214 (Apr-Sept) EBS rise

  • That has unmasked the 1.0836 Fibo, 61.8% retrace of the same rise

  • EUR/USD Trader TGM2334. Offer at 1.0930. Previous nL1N3LR092

  • Dollar shorts could be stretched to breaking point nL1N3LR0EW

Source:
Refinitiv IFR Research/Market Commentary

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