By Martin Miller — Oct 30 - 05:15 AM
EUR/USD's long tail on Tue's candle points to a downside rejection
There is scope for bigger gains to the 1.0869 Fibonacci level
1.0869 Fibo is a 23.6% retrace of 1.1214 to 1.0762 (Sept to Oct) EBS drop
An eventual a break and close above 1.0869 Fibo would be very bullish
However, bulls should be mindful of 14-day momentum that remains negative
A break under the 1.0762 Oct low would shift the bias back to the downside
EUR/USD Trader TGM2334. Previous update nL1N3M50DN
Source:
Refinitiv IFR Research/Market Commentary