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Sep 30 - 03:55 AM

EUR/USD - Bearish Month-End Close Could Be Critical

By Peter Stoneham  —  Sep 30 - 02:15 AM
  • Wed reversal runs into resistance and consolidates gains

  • Hurdles from 1.1770 through 1.1800 could attract profit taking as Sept ends

  • Daily momentum negative, RSI turns over and 10-55DMA bear cross pressuring

  • Into month-end and a potential bearish engulfing candle

  • This key long term reversal signal could prove significant through October

  • We lean bearish but will wait to see how month-end pans out



EUR/USD Trader

EUR/USD daily ichimoku chart: Click here

EUR/USD Monthly Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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