By Peter Stoneham — May 09 - 04:00 AM
Cross was held just ahead of a 76.4% Fibo Friday
The 0.8597 retrace is taken off the 0.8719-0.8402 drop
Our offer ahead of the Fibo met and we target 0.8465
Friday's long upper candle shadow bearish
However, early Monday and another long shadow forming, to the downside
Daily momentum and RSI remain over bought but no divergence seen
Weekly close inside the cloud noted: last close inside January 2021
Upside risk remains while mixed signals cloud near-term direction
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Source:
Refinitiv IFR Research/Market Commentary