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Aug 19 - 04:55 AM

EUR/USD - FX Traders Might Consider Lightening Longs

By Peter Stoneham  —  Aug 19 - 02:35 AM
  • Six-day bull run extended to 1.1966 Tues, just off highs early Wed

  • 1.20 now seen as the pivotal level and we offer at 1.1990

  • 14-day momentum positive but not confirming gain: market stretched

  • Daily and weekly RSI above 70.00 and overbought

  • Corrective pull backs now the risk and 10DMA at 1.1833 seen key

  • Expect stalling at the previous 1.1916 high: bids from late comers






EUR/USD Trader

EUR/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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