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Oct 14 - 01:55 PM

EUR/USD - Rally Sellers, Bear Signals Emerge

By Christopher Romano  —  Oct 14 - 12:02 PM
  • EUR/USD rallies to an 8-session high Thursday, hits 1.1624 on EBS

  • The rally stalls just short of the 21-DMA and reversal ensues

  • All gains are erased & the pair turns negative on the session

  • Daily RSI diverges on the high, daily inverted hammer candle forms

  • Bearish tech signals emerge on daily charts, suggests short in charge

  • Immediate support in the 1.1565/70 zone, if breaks Sep 12 daily low in play

  • 1.1500 barriers, 50% Fib of 1.0636-1.2349 remain impediments for shorts

  • Break of those supports suggests EUR/USD set for a much deeper fall

  • For more click on FXBUZ



eurusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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