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Oct 19 - 02:55 AM

EUR/USD - Increasing Risk Of A Short-Term Trend Break

By Peter Stoneham  —  Oct 19 - 02:10 AM
  • Falling daily tops beginning to erode any bull bias off a trend support

  • The support line, off the 1.0448 Oct. 3 low, is at 1.0521 today

  • Recent high at 1.0640 and a 23.6% Fibo at 1.0643 stand over the EUR

  • Still see bullish risk while above 1.0521 but bearish potential is building

  • Long candle shadows on weekly chart highlight EUR weakness

  • Mixed signals and we stand aside for now

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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