EUR/USD’s bounce seems to have stalled at a key Fibonacci level. Wednesday’s hammer candle is warning of an impending bearish move. EUR/USD’s recovery rally from recent lows below 1.10 has stalled around the key Fibonacci level and a pullback could be in the offing. The currency pair has repeatedly failed to beat 1.1082 – 50% Fibonacci retracement of 1.1175/1.10989 – in the last three days. More importantly, EUR/USD created a bearish hammer candle on Wednesday, warning of an impending bearish move. The combination of persistent failure at the key level and bearish candlestick pattern indicates the market will likely test dip demand with a pullback to 1.1050. Acceptance below that level would validate Wednesday’s bearish hammer and shift risk in favor of a re-test of the recent low of 1.0989. A bullish revival needs a close above 1.1082 (50% Fib + hammer’s high). The pair is currently trading at 1.1078, representing marginal gains on the day. Daily chart Trend: Bearish Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next German FinanceMin: German exports stabilized, but trade risks remain FX Street 3 years EUR/USD's bounce seems to have stalled at a key Fibonacci level. Wednesday's hammer candle is warning of an impending bearish move. EUR/USD's recovery rally from recent lows below 1.10 has stalled around the key Fibonacci level and a pullback could be in the offing. The currency pair has repeatedly failed to beat 1.1082 - 50% Fibonacci retracement of 1.1175/1.10989 - in the last three days. More importantly, EUR/USD created a bearish hammer candle on Wednesday, warning of an impending bearish move. The combination of persistent failure at the key level and bearish candlestick pattern indicates the market will… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
