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Nov 21 - 02:55 AM

EUR/USD - Slump Breaks Under Key Fibo, Watch For A Close Below

By Martin Miller  —  Nov 21 - 02:30 AM
  • After last week's failure above the 200-DMA, now at 1.0408

  • Mon sees brk under 1.0256 Fibo - 23.6% of 0.9528-1.0481 (Sept-Nov) EBS rise

  • A daily close under 1.0256 Fibo will increase the odds for a bigger slump

  • Expect a drop to 1.0117 Fibo - 38.2% retrace of the same 0.9528-1.0481 rise

  • EUR/USD Trader TGM2334. Previous update nL1N32E0G0

  • It might be time to insure against a EUR/USD slump nL1N32D0Q8

Source:
Refinitiv IFR Research/Market Commentary

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