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Aug 15 - 01:55 PM

EUR/USD - Rally Sellers Reign, Bear Signals Are Flashing

By Christopher Romano  —  Aug 15 - 11:55 AM
  • Two approaches to the 55-DMA were rejected when rally sellers emerged

  • Overnight rally met sellers again, implies they're becoming aggressive

  • EUR/USD fell below the 10- & 21-DMA, rising wedge base on daily charts

  • Break of wedge base suggests recent rally was only corrective in nature

  • Daily & monthly RSIs are falling again, implies downward momentum

  • Break above 1.0370/1.0400 zone needed to reignite EUR/USD's rally

  • Should 1.0100/50 support break a test of July's monthly low is likely

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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