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Aug 02 - 01:55 PM

EUR/USD - Rally Sellers Reign As Bearish Signs Are Building

By Christopher Romano  —  Aug 02 - 12:35 PM
  • EUR/USD rallied to 1.1020 on EBS but sellers emerged, sharp fall then ensued

  • July 10 and 28 daily lows at 1.0944 broke, a 1-month low was traded

  • EUR/USD's slide stopped short of the 55-DMA but techs imply fall may extend

  • Falling daily, monthly RSIs imply that downward momentum remains in place

  • 10-DMA cross below the 21-DMA generated another bearish signal

  • Daily chart shows possible head and shoulder top patter is forming

  • Should rally extend the thin daily cloud, 200-DMA, May low are in focus

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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