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Thomson Reuters
May 30 - 03:48 AM
EUR/USD's Ninth Biggest 2018 One-Day Drop Unmasks Key Fibo
First appeared on eFXplus on May 30 - 01:35 AM
  • EUR/USD decline accelerated to register a new 2018 low at 1.1510 on Tues
  • Tuesday's fall was the ninth biggest fall of 2018, bears tighten grip
  • Fourteen-week momentum negative, reinforcing the bearish market structure
  • We are looking to get short at 1.1590 on recovery attempts
  • The overall expectation is for deeper losses to the key 1.1448 Fibo
  • 1.1448 Fibo -- 50% retrace of the 1.0340 to 1.2556 (2016-2018) rise

EUR/USD Trader:

Weekly Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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