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May 28 - 08:36 AM

EUR/USD - Bulls Running Again But Lack Stamina

By Peter Stoneham  —  May 27 - 08:25 AM
  • Follow up to Tues's rally and a brief breach of 1.1012 200DMA, now key

  • Price pulls swiftly away from 1.1031 high: risks dropping back under 100DMA

  • 14-day momentum with the bulls but a sub-1.0982, Tues close, could damage

  • Price heading back to mid-cloud: cloud extremes seen as key trigger points

  • Cloud levels are 1.0895 and 1.1065 and doesn't narrow until July

  • Weekly action remains heavily bullish and targets the weekly cloud







EUR/USD Trader

EUR/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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