Potential technical support at the 1.1070 Fibo remains intact

1.1070 Fibo is a 23.6% retrace of the 1.0602-1.1214 (Apr-Sep) EBS rise

14-day momentum remains positive, highlighting the marginal upside bias

However, recent large upper candle shadows point to an upside rejection

A break and daily close below 1.1070 Fibo would point to a decline

EUR/USD Trader TGM2334. Previous update nL1N3L9091

Dollar outlook negative but shorts are a bit crowded nL1N3LB038