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May 23 - 01:55 PM

EUR/USD - Dip Buyers Stay Aggressive As A Key Signal Nears

By Christopher Romano  —  May 23 - 01:25 PM
  • EUR/USD's overnight dip was very shallow, stalled short of the 21-DMA

  • Ensuing rally sees 38.2% Fibo of 1.1185-1.0349 break, 19-session high set

  • Monthly bull hammer candle in place, is a very strong reversal signal

  • Daily, monthly RSIs rising, monthly diverged on low set earlier in May

  • 10-DMA is poised to cross above the 21-DMA, will reinforce bull signals

  • Big moves typically occur after 10-DMA crosses above or below the 21-DMA

  • For more click on FXBUZ

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Refinitiv IFR Research/Market Commentary


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