By Peter Stoneham — Aug 04 - 09:40 AM
Not as clear as the GBP/USD bull reversal but still significant
EUR/USD clear above 1.1000 and above the Aug. 2 1.1020 sell-off high
Bulls can target the 1.1052 50% Fibo level: taken off 1.1276-1.0913
Breach of the 10DMA adding to the bull break; a close above 1.1008 key
Daily momentum readings remain negative: strong close to lift the indicator
Daily head and shoulders forming, could limit the EUR's bullish potential
Weekly hammer also forming but would need confirmation next week
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Source:
Refinitiv IFR Research/Market Commentary