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Apr 02 - 03:55 AM

EUR/USD - Risk Of A Deeper Drop Following March Signal

By Peter Stoneham  —  Apr 02 - 01:45 AM
  • Technically, looking bad for the EUR after a March gravestone Doji

  • Gravestone Dojo: Opening and closing are towards the low of the session

  • A new trend low of 1.0730 and nearing the 1.0695 low from Feb. 14

  • Potential for a drop to the low 1.06s and a test of a 76.4% Fibo

  • The retracement level taken off the 1.0448-1.1139 climb

  • Can sometimes see a strong rebound off of or near 76.4% Fibos

  • Daily momentum and RSI are stretched and better levels to sell possible

  • We lean bearish but will stand aside for now

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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