EUR/USD closed lower due to profit taking on Friday as it consolidates some of last week's rally. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off last week's low, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would temper the near-term friendly outlook.
Join the Discussion