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EUR/USD failure by the 100 DMA Friday reinforces downside

EUR/USD 1.1107 pivot pressured after fail ahead 1.1165 10 US/German spreads 15bp lower from Apr 28, at 169bp, underpinning EUR/USD Pair breached cloud top at 1.1069 by 3 pips earlier, revisit expected The cross on the sl…

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  • EUR/USD 1.1107 pivot pressured after fail ahead 1.1165 

  • 10 US/German spreads 15bp lower from Apr 28, at 169bp, underpinning EUR/USD

  • Pair breached cloud top at 1.1069 by 3 pips earlier, revisit expected 

  • The cross on the slow stochs in overbought territory generated a sell signal

  • Bearish signal Friday confirmed yesterday on the candlesticks

  • Friday's failure by the 100 DMA reinforces return to  lower levels 

  • Price action whippy but gradually rising ranges may emerge in coming weeks

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