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Apr 22 - 04:55 PM

EUR/USD - Shorts Are Gaining Traction

By Christopher Romano  —  Apr 22 - 03:02 PM
  • EUR/USD rallies near the daily cloud top after the ECB & US claims data

  • Rally stalls, sharp fall ensues after Lagarde's presser, Biden tax proposal

  • EUR/USD falls below Wednesday's low, that day's bull signal is now negated

  • Pair nears the 23.6% Fib of 1.1704-1.2080 before bouncing meagerly

  • Daily RSI implies short-term downside momentum is building

  • Monthly technicals remain bullish though, could limit the downside

  • Daily cloud base, 10- & 55-DMAs, 38.2% fib are impediments for bears

  • For more click on FXBUZ



eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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