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Aug 09 - 07:55 PM

EUR/USD - Still Trending Higher But Top May Be Forming

By John Noonan  —  Aug 09 - 06:40 PM
  • Despite the 0.75% fall on Friday, the EUR/USD continues to trend higher

  • The 5, 10 and 21-day MAs remain in a bullish alignment and point higher

  • The close below the 10-day MA at 1.1801 is a warning the trend may be waning

  • EUR/USD has capped at 1.1900/20 3 times, which may portend a rounding top

  • A close above the 10-day MA (1.1801) will ease the downward pressure

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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