By Peter Stoneham — Jun 20 - 01:55 AM
Last week closed with a large hammer candle, bullish: needs confirmation
Close on the week above 1.2210 needed to complete the candle signal
Early Monday and the market is trying to lift
14-day momentum is holding negative values and RSI neutral to lower
Initial support at 1.2170, a 50% Fibo off the 1.1934-1.2405 climb
Highs at 1.2357 and 1.2405, June 17 and 16 respectively, the resistance
The 10DMA could be key this week as it starts to lean on price, 1.23
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Source:
Refinitiv IFR Research/Market Commentary