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May 18 - 06:55 AM

EUR/USD - Leaps But Bulls Are Overreaching

By Jeremy Boulton  —  May 18 - 05:13 AM
  • EUR/USD 1.2153-1.2219 EBS today

  • Highest traded since Feb 25 when pair reached 1.2243

  • EUR/USD is trading 11 pips above top of 20-day Bollinger bands

  • High probability of a pullback as seen Jan, March and early May

  • Dips may be shallower than prior because there are less longs

  • 38.2% May rally is 1.2128, 23.6% March-May rise is 1.2096

  • Middle 20-Day Bollinger bands is 1.2092


EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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