Slobodan Drvenica
Windsor Brokers
EUR/USD
The Euro stays in red on Friday and pressures new one-month low as bears regain traction after Thursday's hesitation, expressed by daily Doji candle.
The action remains under broken Fibo level (1.2173, 23.6% of 1.1602/1.2349) that keeps near-term bias with bears.
Rising bearish momentum on daily chart and multiple bear-crosses of daily moving averages add to negative tone.
Bears eye key Fibo support at 1.2064 (38.2% of 1.1602/1.2349) break of which would generate reversal signal and expose targets at 1.2000/1.1975 (psychological/50% retracement). The pair is on track for bearish weekly close, with close below 1.2173 pivot to generate reversal signal on weekly chart and increase downside pressure.
Res: 1.2162; 1.2173; 1.2189; 1.2220
Sup: 1.2110; 1.2064; 1.2000; 1.1975
Interested in EUR/USD technicals? Check out the key levels
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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