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Feb 18 - 01:55 PM

EUR/USD - Dip Buyers Look For Closes Above Some Key Impediments

By Christopher Romano  —  Feb 18 - 12:26 PM
  • Dip buyers emerged Feb 17, helped stem the drop from the Feb 16 high

  • Rally follows today, 10- & 21-DMAs get pierced, daily RSI rises

  • Those are encouraging signals for dip buyers as is Feb's monthly bull hammer

  • Dip buyers will feel better on a close above the 10 & 21-DMAs, Feb 17 high

  • If rally extends & 1.2165/70 breaks inverse head & shoulders pattern forms

  • Completion of H&S pattern suggests EUR/USD can rally toward January's high

  • For more click on FXBUZ



eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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