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Thomson Reuters
Aug 09 - 03:48 AM
EUR/USD - Bullish Pressure Builds For Key Fibos And Cloud Base
First appeared on eFXplus on Aug 09 - 02:35 AM
  • Recall Tuesday saw the biggest one-day rise since July 30 nL1N1UZ06V
  • Bullish pressure builds for an assault on 1.1629/1.1660 key Fibos
  • 1.1629/1.1660 -- 38.2/50% retraces of 1.1790 to 1.1530 (Jul to Aug) EBS fall
  • Bias also intact for the daily cloud base in between the Fibos at 1.1653
  • Looking to fade recovery at 1.1645 in anticipation for a bearish resumption
  • Dollar is crowded, overbought and at risk of a drop nL1N1UY05V

EUR/USD Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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