By Peter Stoneham — Aug 07 - 02:00 AM
Thursday hammer candle into Friday confirmation
Makings of a trend reversal of the 1.3144-1.2620 move
We have a 1.2652 long play, stop raised to 1.2685 with a 1.2870 target
Softer price action early Monday and below the key 10DMA, 1.2799
Fourteen day momentum negative and RSI pointing down
Longs at risk with signals mixed
Clear break above 1.2800 needed to bolster the reversal call
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Source:
Refinitiv IFR Research/Market Commentary