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
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Source:
Refinitiv IFR Research/Market Commentary