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Jun 18 - 01:55 PM

EUR/USD - Advantage To Shorts But Bounce Risk Emerges

By Christopher Romano  —  Jun 18 - 12:17 PM
  • EUR/USD bears score wins on breaks of bull channel base, April 7 2021 low

  • Pair hits 2-1/2 year low, trades to 1.1847 on EBS and then bounces

  • Bounce occurs near 76.4% Fib of 1.1704-1.2266, daily bull hammer forms

  • Daily RSI is oversold, implies downside momentum might start to wane

  • EUR/USD still below the daily cloud & 200-DMA, rallies likely to be sold

  • Tests of April, November monthly lows still remain a possibility

  • For more click on FXBUZ




eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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