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Apr 27 - 03:55 AM

EUR/USD's 'Bearish Engulfing' Pattern Negated, Bulls In Control

By Martin Miller  —  Apr 27 - 02:40 AM
  • "Bearish engulfing" pattern negated by surge to new a 1.1096 multi-year high

  • There is now scope for much bigger gains to test March 31 2022 1.1185 high

  • 14-day momentum remains positive, tenkan and kijun lines are bullish aligned

  • The 1.0959 Fibo should limit bigger near-term corrective moves

  • 1.0959 Fibo, a 23.6% retrace of the 1.0517-1.1096 (March-April) EBS rise

  • Previous update nL1N36T0GN. EUR/USD Trader TGM2334

Source:
Refinitiv IFR Research/Market Commentary

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