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Aug 13 - 02:55 AM

EUR/USD - Close On The Week Could Cut Through The Fog

By Peter Stoneham  —  Aug 13 - 01:55 AM
  • With a 1.1704 low, EBS pricing, in place might be scope to go higher

  • However, tight price action clouds direction

  • Fibo retrace and 10DMA likely pivotal topside at 1.1783-84

  • Weekly action has a hint of a hammer candle, bullish

  • A close nearer to 1.1769 week's high to form the hammer

  • Would need bullish confirmation next week to complete the signal

  • We stand aside for now but will monitor a test of the 1.1700-04 area

    For more click on FXBUZ









EUR/USD Trader

EUR/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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