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Jan 05 - 02:55 AM

EUR/USD - FX Traders Grappling With Conflicting Signals

By Peter Stoneham  —  Jan 05 - 01:47 AM
  • EUR clinging to its bid early Tues but Mon action hinted at demand fade

  • Long upper candle shadow and loss of momentum noted but RSI on the rise

  • Underlying up-trend still alive but gain consolidation likely at best

  • Dble day hi 1.2310 EBS data: longs might consider lightening up on approach

  • However, 1.2310 breach opens up 30DMA upper Bollinger at 1.2366

  • Danger level and potential tipping point a way off at 1.2130, Dec 21 low








EUR/USD Trader

EUR/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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