EUR/USD: Bearish sentiment below 50% Fibonacci
Suggested positioning: Short positions below 1.078 with targets at 1.0725 and 1.0655 in extension
Technical reasons: Unable to move above the 61% Fiboannci level, the pair moved down to be held below the 50% Fibo, while remaining inside the Ichimoku cloud. The RSI is heading down towards the neutrality area.
Alternative Scenario: Above 1.078 look for more upside towards 61% Fibonacci at 1.0838
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.0655 | 1.0725 | 1.0780 |
| 1.055 | 1.0838 |
