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Mar 09 - 05:55 PM

EUR/USD - Downtrend Deferred By 100-DMA, But Onus Remains On Bulls

By Randolph Donney  —  Mar 09 - 03:50 PM

  • EUR/USD rebounds after Wed's 1.0524 low on EBS brushed the 100-DMA

  • That day's new 8-week low left a pending bullish divergence from RSIs

  • But bearishly crossed 21-, 30- and 55-day MAs at 1.0640/96/715 weigh

  • They'd have to be retaken to refudiate that bearish pattern

  • Nearby resistance is from the 10-DMA and tenkan, last at 1.0598/609

  • The 100-DMA will rise to 1.0535 on Friday by 38.2% of the Nov-Feb advance

  • That Fibo has yet to be closed below to signal the 50% at 1.0382 is next

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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