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Refinitiv
May 25 - 02:55 AM

EUR/USD - Bears Building Up A Head Of Steam

By Peter Stoneham  —  May 25 - 01:30 AM
  • EUR/USD pierced the daily cloud base then turned lower Wed

  • The drop leading into a 1.0733 2-month low Thurs

  • A daily inverted hammer candle formed, bearish

  • Daily and monthly RSIs are falling and imply downside momentum remains

  • Fourteen day momentum increasingly negative too

  • We are short from 1.0810 for 1.0660

  • The stop is lowered to 1.0835 for improved risk/reward

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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