Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Oct 30 - 06:55 AM

EUR/USD - Chart Hints At A Rejection Of The Downside

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

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2024 eFXdata · All Rights Reserved
!