Published: 2024-11-06T01:41:46.000Z
Chart EUR/USD Update: Sharp rejection from the 1.0935 Fibonacci level
Technical Analyst
1
Sharply lower following rejection from the 1.0935, 38.2% Fibonacci retracement level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0985 | * | 50% Sep/Oct fall | S1 | 1.0840 | * | 25 Oct high | |
| R3 | 1.0950 | * | Jul high | S2 | 1.0800 | * | congestion | |
| R2 | 1.0935 | * | 38.2% Sep/Oct fall | S3 | 1.0761 | ** | 23 Oct low | |
| R1 | 1.0900 | * | congestion | S4 | 1.0700 | * | congestion |
Asterisk denotes strength of level
01:35 GMT - Sharply lower following rejection from the 1.0935, 38.2% Fibonacci retracement level. Return below the 1.0900 level see pressure returning to the 1.0840 support. Clear break here will open up scope for retest of the 1.0800 level then the 1.0761 low. Further choppy trade can be expected with daily studies now mixed. Meanwhile, resistance at the 1.0900/1.0935 area now expected to cap. Would take break here to open up stronger gains to the 1.0950 congestion area. Higher still, if seen, will turn focus to the 1.0985/1.1000, 50% Fibonacci level and the 1.1000, September low.