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Jan 03 - 02:55 AM

EUR/USD - Bullish Resumption Risk But Signals Are Mixed

By Peter Stoneham  —  Jan 03 - 02:10 AM
  • EUR/USD struck an eight-session low after piercing the 10-DMA: 1.1024

  • Tues low, 1.0938, held just above a 50% Fibo of 1.0724-1.1139 at 1.0932

  • Daily RSI beginning to lift but and monthly RSI is falling

  • The up-trend off October's 1.0448 low is still intact

  • The pair remains above the 200-DMA and daily cloud: 1.0846-1.0844

  • The 50DMA has crossed above the 200DMA, bullish signal

  • Risk of a bullish resumption

  • We will wait for additional signals to emerge before putting on a trade

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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