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Jul 06 - 01:55 PM

EUR/USD - Shorts In Control Again After A Short Rally

By Christopher Romano  —  Jul 06 - 12:55 PM
  • Dip buyers emerged Friday, sharp rally ensued, bullish tech signs generated

  • Monday doji initially followed by a rally Tuesday, bolstered bull signals

  • After 10-DMA gets pierced Tuesday's rally reverses, EUR/USD turns negative

  • EUR/USD breaks Friday's low, hits a 1.1806 low on EBS, bounces slightly

  • Bear engulfing candle forms Tuesday, daily RSI diverges on the day's high

  • April 6 daily low (1.17945 EBS) is support, stops likely sit below

  • If support gives way bears will target support near 1.1700, possibly 1.1600

  • For more click on FXBUZ



eurusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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