The Euro returned to red in early Thursday’s trading and has already retraced a half of Wednesday’s 1.5% recovery rally, after traders reacted on oversold conditions. It seems that bounce was short-lived, as recovery repeatedly failed to clearly break above pivotal Fibo barrier at 0.9732 (Fibo 38.2% of 0.0050/0.9535 bear-leg), generating an initial signal of […]
The post EUR/USD Outlook: Bears Regain Control after Bulls Got Trapped at Pivotal Fibo Barrier appeared first on Action Forex.
Daily Pivots: (S1) 1.1136; (P) 1.1201; (R1) 1.1238; More… Intraday bias in EUR/USD remains neutral for the moment. On the upside, break of 1.1292 resistance will argue that correction from 1.1572 has completed after defending Read more…
Daily Pivots: (S1) 145.68; (P) 146.68; (R1) 147.74; More… Intraday bias in USD/JPY remains neutral at this point. Further rally is expected as long as 144.02 resistance turned support holds. As noted before, fall from Read more…
Daily Pivots: (S1) 1.3225; (P) 1.3292; (R1) 1.3331; More… Intraday bias in GBP/USD is turned neutral first with current retreat. The view is unchanged that correction from 1.3442 might have completed at 1.3138 already. Decisive Read more…