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Oct 23 - 02:55 AM

EUR/USD - Bullish Set Back But Key Support Near By

By Peter Stoneham  —  Oct 23 - 02:10 AM
  • EUR bulls fail to maintain a daily cloud top break but key supp. near by

  • Will take a drop under 21DMA, 1.1757, to threaten 1.1728 trend support

  • Long upper wkly candle shadow a concern but 1.1688 tipping point a way off

  • Monthly action just holding above the cloud base, also at 1.1688

  • Daily momentum close to neutral and RSI points south

  • Dip buying maybe prudent but we prefer to stand aside for now







EUR/USD Trader

EUR/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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