By Peter Stoneham — Jan 26 - 02:10 AM
Tues hammer candle into a constructive Wed and our 1.2390 offer met
Failure to close below the 10DMA a concern for our trade: 1.2336 today
Daily momentum finally reflecting the recent downturn in price
We still see risk to 1.2216, 38.2% Fibo off 1.1842-1.2447
The Jan 23 1.2447 high now pivotal resistance, our stop set tight above
Weeklies holding to a bull bias but indecision noted: stalling action
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Source:
Refinitiv IFR Research/Market Commentary