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Feb 12 - 05:00 AM

EUR/USD - Potential For A Reversal But Bull Close Needed Today

By Peter Stoneham  —  Feb 12 - 03:05 AM
  • EUR in a state of flux: hammer candle (bullish) Tues and bear start Wed

  • Hammer needs confirmation and a close back inside the Bolli bands would help

  • 30DMA lower Bolli at 1.0909: 14-day momentum still heavily negative

  • Initial Fibo off the 1.1096 to 1.0891 drop comes at 1.0939

  • We offer by 1.0990 but strategy under review if reversal signal plays out

  • Weekly action still points south for a run at the 1.0879 Oct 2019 low







EUR/USD Trader

EUR/USD Daily Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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