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Apr 08 - 01:55 PM

EUR/USD - Longs Are Happy To See Dip Buying Theme Persist

By Christopher Romano  —  Apr 08 - 11:41 AM
  • EUR/USD stumbled after rallying above the 200-DMA on Wednesday

  • Daily inverted hammer formed, daily RSI diverged, sent warnings to longs

  • Thursday sees dip buyers emerge near the 21-DMA & climb above the 200-DMA

  • EUR/USD could be consolidating gains from the rally off the March 31 low

  • Consolidation is healthy for trends; should resolve with new highs made

  • Rising daily, monthly RSIs aren't overbought, implies more upside

  • 1.1940/50, 1.1990/1.2000 are targets once consolidation completes

  • For more click on FXBUZ




eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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