DAILY SPOT EURUSD - Friday's call and technicals
All this week’s and Thursday’s bearish targets have been met, investors aggressively selling the market yesterday to post a 5th lower daily high & low in a row and a loss of 1 Big Fig on the day. With no sign that the sell-off is ending, but with intraday sentiment oversold at 21 month lows and trading towards important support at 1.1158, a 62% pullback to the entire 2017-2018 bull market, the outlook for Friday remains only cautiously negative and the call is to sell just modestly on the open and then at 1.1241, Thursday’s Marabuzo line with a stop loss at 1.1275, the low made 2 weeks ago. Targets are to 1.1181, yesterday’s low, 1.1158, the 62% Fibonacci and 1.1118, the June 2017 low trade.
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