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Jan 04 - 02:55 AM

EUR/USD - Bulls Battling Hard Against Dec 31 Drop

By Peter Stoneham  —  Jan 04 - 02:01 AM
  • New Year and EUR recovering from Dec 31 drop from dble day, 1.2309-10 EBS hi

  • Rising-thickening daily cloud and positive momentum fighting bull's corner

  • Weekly action hints at a bullish continuation pattern: 1.2310 key res.

  • Dec 31 close below 10DMA a warning to bulls: price back above now

  • Bear trigger points at 1.2187, 21DMA, and 1.2130, Dec 21 hammer low

  • Minimum retrace of Nov/Dec 1.1602-1.2310 rally comes at 1.2143

  • We stand aside for now









EUR/USD Trader

EUR/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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