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Feb 12 - 02:36 PM

EUR/USD - Bears Negate Bullish Signs, May 2017 Low Targeted

By Christopher Romano  —  Feb 12 - 12:50 PM
  • Feb. 11 long legged doji which was a potential bull signals gets negated

  • EUR/USD breaks below Feb. 11 & 2019's low today, bear engulfing candle forms

  • Daily, monthly RSIs, although being oversold, imply bear momentum is intact

  • EUR/USD bears have hurdles nearby that they need t overcome

  • 76.4% Fib of 1.0340-1.2556, barriers at 1.0875 & 1.0850 are supports

  • Break below 1.0850 targets May 2017 low & 1.0800 psychological support

  • Should 1.0800 give-way bears likely target below 1.0600







chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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