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May 10 - 03:55 AM

EUR/USD - Chart Shows That The Bearish Cycle Is Far From Over

By Martin Miller  —  May 10 - 02:35 AM
  • EUR/USD's bearish cycle from the March 31 1.1185 high continues

  • The downside bias is intact as 14-day momentum is negative = bearish

  • Expectation is for an eventual retest of the 2017 1.0340 low

  • Though the recent 2022 1.0470 (EBS) low could limit the downside near-term

  • We have placed a sell order at 1.0630, ahead of last Thursday's 1.0642 high

  • Multiple reasons to buy dollar, but beware of crowds nL2N2X10GU

  • EUR/USD Trader TGM2334. Previous nL2N2X10C5

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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