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Apr 11 - 01:55 PM

EUR/USD - Rally Sellers Emerge At Old Support, Lower Levels Seem Likely

By Christopher Romano  —  Apr 11 - 12:20 PM
  • April 8 long legged doji followed by a rally to being this week

  • EUR/USD probed 1.1945/55 which is old support turned into resistance

  • Sellers emerged & gains were erased, pair now flat on the session

  • A daily inverted hammer candle formed, daily RSI near falling again

  • Monthly RSI falling, implies longer-term downward momentum remains

  • Test of support near 1.0800 seems likely, stops likely trigger on break

  • EUR/USD shorts then to set their sights on the 2020 yearly low at 1.0636

  • For more click on FXBUZ




eurusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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