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May 26 - 05:55 AM

EUR/USD - Looking Mildly Corrective Ahead Of The Weekend

By Peter Stoneham  —  May 26 - 03:40 AM
  • EUR catching a modest correctional bid early Friday

  • We are short from 1.0810 for 1.0660 and now have profits locked to 1.0765

  • A small lower candle shadow Thurs might hint at supply fade

  • Weekly candle also showing a long lower candle shadow

  • However, 14-day momentum is still confirming price weakness

  • A minimum correction from the 1.0925 to 1.0708 drop is at 1.0759 (EBS price)

  • Still a bear market but Friday might record an adjustment

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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