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
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Source:
Refinitiv IFR Research/Market Commentary