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Thomson Reuters
May 23 - 03:48 AM
EUR/USD - Bears Eye 2019 Low, Wed's Long Upper Shadow Weighs
First appeared on eFXplus on May 23 - 02:05 AM
  • Bias remains on downside due to recent double failure last week above 30-DMA
  • That double failure above 30-DMA,now at 1.1205, continues to weigh on spot
  • Also long upper shadow on Wed's candlestick shows recovery attempts rejected
  • Risk grows for a further drop under 30-day lower bollinger, now at 1.1113
  • Bollinger-band near to 2019 low. 10-DMA and 30-DMA negative aligned
  • Short at 1.1220 for 1.1110 target, stop at 1.1190. Previous

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Source:
Thomson Reuters IFR Markets

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