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Sep 08 - 02:55 AM

EUR/USD - Could Tumble If Cloud Base Gives Way

By Peter Stoneham  —  Sep 08 - 01:44 AM
  • Second daily bear close within a potential reversal of the underlying trend

  • Monday bearish engulfing line confirmed Tuesday

  • However, reversal being held by daily cloud base, 1.1831

  • Cloud based backed up by the 10DMA, also at 1.1831

  • We are short from 1.1875 with a lowered stop at 1.1915 and 1.1730 target

  • 14-day momentum diverged bullishly Tuesday, a concern for the trade

  • RSI lower but not fully confirming the price turn yet

    For more click on FXBUZ









EUR/USD Trader

EUR/USD daily Ichimoku chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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