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Sep 07 - 01:55 PM

EUR/USD - Already Bearish Signals Get Reinforcement Today

By Christopher Romano  —  Sep 07 - 12:40 PM
  • EUR/USD technical signals have been bearish since late July

  • Daily, monthly RSIs have implied downward momentum was in place

  • Move below daily cloud & slew of daily MAs was a recent development

  • A fresh bearish signal emerged today as EUR/USD's down trend extended

  • Price drop followed Sept 6 daily doji, implies down trend is resuming

  • EUR/USD shorts likely target the June and May monthly lows

  • Break of those supports will bring 1.0490/1.0520 zone into focus

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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