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May 12 - 01:55 PM

EUR/USD - Rally Sellers Will Have To Become More Aggressive

By Christopher Romano  —  May 12 - 12:20 PM
  • EUR/USD breaks below its 1.0470-1.0650 consolidation phase range

  • Phase completion implies EUR/USD's next down leg has begun nL2N2X41HW

  • Falling Daily, monthly RSIs are oversold but are confirming the new low

  • Influence from falling 10-DMA, s-t trend line break reinforce bear signals

  • Shorts gain confidence, likely target the 2017 yearly low & possibly parity

  • Those who missed opportunities to sell a rally need to become aggressive

  • Offers likely being lowered towards the April monthly low, 1.0530/50 area

  • For more click on FXBUZ

eurusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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