Quick look: EUR/USD selling stalls again at Key Fib level

Daily Chart

eurusd daily

As pointed out here (https://ogforexwire.wordpress.com/2016/03/02/eurusd-looks-ready-for-a-minor-bullish-move/) today before the ADP release, the selling ran out of oxygen at 1.0845 – 61.8% of Dec low-Feb high).

With US stocks wobbly amid signs of weakness in oil prices, the rebound from 1.0845 could be extended to 1.09-1.0938 (100-day MA).

Services PMI figures are due for release across Eurozone and in the US.From the pair’s viewpoint, the US ISM non-manufacturing/services PMI release is more important.



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s