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Feb 18 - 02:55 AM

EUR/USD - Still Looking Over The Edge Of A Cliff Drop

By Peter Stoneham  —  Feb 18 - 02:03 AM
  • A slight loss of bearish momentum but risk to the 1.1976 cloud base remains

  • We have a counter bias long for 1.2220 with a tight stop under 1.2000

  • Potential for an inverse head and shoulders gives bulls hope

  • Converged 30-100DMAs are at 1.1999 with a 1.2008 pivot point ahead

  • A 76.4% Fibo at 1.2003, off 1.1952-1.2169 joins the 1.20 supports

  • A move back over 1.2100 needed to damage the bear run, 1.2105 Wed high

  • Weekly action hints at a bearish continuation: sideways bias currently

    For more click on FXBUZ









EUR/USD Trader

EUR/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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