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Aug 03 - 01:55 PM

EUR/USD - Longs Still See Promising Signs

By Christopher Romano  —  Aug 03 - 12:18 PM
  • Daily RSI turns lower while monthly RSI is poised to turn lower

  • Bearish momentum could be building but bullish signals likely to prevail

  • A bull signal emerges today after the 10-DMA crosses above the 21-DMA

  • Consolidation of gains off the July 21 low persist, also a bull sign

  • Consolidation should resolve with EUR/USD rallying to new short-term highs

  • Break above 1.1910 likely to see longs target 1.1970/75 & the 200-DMA

  • Structural support near 1.1840, if breaks bullish scenario likely is negated

  • For more click on FXBUZ



eurusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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