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Jan 05 - 02:55 AM

EUR/USD - Bullish Signals But Market Lacks Conviction

By Peter Stoneham  —  Jan 05 - 02:20 AM
  • Long upper and lower EUR/USD candle shadows highlight market indecision

  • Wed's hammer candle and a positive Thurs close hinted at a reversal

  • However, market comes back offered early Frid

  • Fourteen day momentum is poised to flip negative

  • Daily RSI marginally lower from neutral levels

  • Weekly action hovering just above the 1.0910 cloud top

  • A resumption of the Dec. 28-Jan. 3 bear run the risk

  • We will stand aside for now

Source:
Refinitiv IFR Research/Market Commentary

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