By Peter Stoneham — Apr 23 - 02:30 AM
Bear bias is holding and our long play is in trouble
Late Monday recovery did form a hammer candle (bullish)
However, a soft start Tuesday keeps downside risk alive
Squeeze point is up in the mid-1.24s and high 1.24s the turning point
Key support at Mon's 1.2299 2024 low
Fourteen day momentum confirming latest weakness but is stretched
We will maintain the long for now
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Source:
Refinitiv IFR Research/Market Commentary