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Aug 09 - 03:48 AM
EUR/USD's Large Upper Shadow, Triple Fibo Failure, Negative
First appeared on eFXplus on Aug 09 - 02:05 AM
  • Broke but failed, on Tues, Wed, Thu to see a daily close above 1.1220 Fibo
  • 1.1220 Fibo is a 50% of the 1.1412 to 1.1027 (June to August) drop
  • Dojis formed on Tues and Wed: mkt closes nr where it opens = indecision
  • Thu's large upper shadow, daily cloud (1.1259-1.1289 region), weighs
  • EUR/USD bulls path seems to be blocked by the daily cloud
  • Recent dollar shorts have fallen into a bear trap

EUR/USD Trader:

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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