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Jan 20 - 03:55 PM

EUR/USD - Rally Sellers Lean On The 10-DMA

By Christopher Romano  —  Jan 20 - 02:15 PM
  • Rally off the Jan 18 low runs into sellers after 10-DMA briefly pierced

  • EUR/USD turns -ve on the ensuing slide, daily RSI diverges on the high

  • The falling monthly RSI implies bearish momentum is growing

  • January's inverted hammer candle reinforces bear sentiment

  • Break of key support in 1.2140/65 zone needed to give bears more control

  • 55-DMA, 38.2% Fib 1.1602-1.2349, daily cloud top, Dec 2 low sit there

  • Break of that support should trigger stop, puts 1.1910/30 in play

  • For more click on FXBUZ







eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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