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Nov 07 - 03:48 AM
EUR/USD - A EUR/USD Close Under A Key Fibo Would Really Hurt Bulls
First appeared on eFXplus on Nov 07 - 01:40 AM
  • Biggest daily drop since Sept 25 on Tues when it closed down 52 pips weighs

  • There has been a marginal break of 1.1065 Fibo, but it has not closed below

  • 1.1065 Fibo is a 38.2% retrace of the 1.0879 to 1.1180 October rise

  • Close sub 1.1065 would be bearish, but beware cloud support (1.0973-1.1064)

  • EUR/USD shorts should remember we are in November nL2N27E0IF

  • Nov seasonality points to a stronger euro nL2N27M07C. Prev nL2N27M05E

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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