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Jun 21 - 03:55 AM

EUR/USD - Poised To Collapse Below A Major Chart Point

By Martin Miller  —  Jun 21 - 01:58 AM
  • EUR/USD's big drop last week closed under the 1.1919 Fibo

  • 1.1919 Fibo is a 61.8% retrace of 1.1704 to 1.2266 (March to May) EBS gain

  • Scope for bigger losses through 1.1837 Fibo, 76.4% retrace of the same rise

  • A break, daily close under major 1.1837 Fibo would weaken further

  • That would unmask the April 1.1795 low for a test

  • The dollar chart is pointing to even bigger gains nL2N2O00LE

  • EUR/USD Trader TGM2334. Previous update nL2N2O00EN

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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