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Dec 07 - 02:55 AM

EUR/USD - Holding A Bid But Losing Momentum

By Peter Stoneham  —  Dec 07 - 02:00 AM
  • Would not bet against the underlying trend but pullback risk increasing

  • Initial Fibo retrace off the 1.1602-1.2177 bull run comes at 1.2041

  • This backed up by the 10DMA at 1.2019 and levels represent value on adj

  • Weekly action a little over extended and adds to correction call

  • Previous 1.2014 peak represents a possible downside limit

  • Below 1.1923, last week's low, and one-month bull run in jeopardy








EUR/USD Trader

EUR/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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