Forex EUR/USD Daily Video, July 28, 2023

[Sive Morten]

Good morning,

Statistics release has crushed markets so, we have to start right from the scratch again. Since EUR is oversold now, we have to wait for pullback, at least to 1.1030 (better to 1.1070) to consider short entry. Nearest target is 1.0880-1.090 level:

 

[Brett Reynolds]

The 1.1150 area was right on 50% Fibo of move down from 18 July. I think impetus was still down as also the 61.8 Fibo was reached from whole moved down from June 2021 at 1.1230. The Monthly Candle could close showing a longer Tail and we may have the possibility of much deeper retracement now on Monthly as per Sive video which i can't remember now the De-Napoli B&B..!? (Maybe you can re-visit this in weekly video?)
Anyway..i caught the 'very nice Double Bottom on $/CHF.! I knew it was coming..