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Feb 03 - 05:55 AM

EUR/USD - A EUR/USD Failure To Close Above A Major Broken Fibo Would Hurt

By Martin Miller  —  Feb 03 - 03:35 AM
  • EUR/USD broke above the 1.0939 Fibo, but is in danger of ending week below

  • 1.0939 Fibo: 50% retracement of the 1.2349 to 0.9528 (2021 to 2022) EBS drop

  • A weekly close above 1.0939 Fibo is needed to keep the bias on the upside

  • Note fourteen-week momentum is positive, reinforcing the overall bull market

  • We remain long at 1.0955 in anticipation for gains in coming sessions

  • EUR/USD Trader TGM2334. Previous update nL1N34I0LY

Source:
Refinitiv IFR Research/Market Commentary

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