By Peter Stoneham — Jul 01 - 05:35 AM
Another leg lower and price eyes a 76.4% Fibo off 1.1934-1.2405 at 1.2045
Sub-1.20 levels calling as momentum holds negative and RSI finally confirms
Run back above converged 21-30 DMAs, 1.2275, needed to trigger a squeeze
Weekly bear trend strengthened by a potential key week
Usually a reversal signal but can also add confirmation to a trend
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Source:
Refinitiv IFR Research/Market Commentary