EUR/USD Trading Forecast

By @ibtimes on

 

EUR/USD closed lower on Friday and has renewed the decline off this month's high. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold, diverging but are turning bearish signalling that additional weakness is possible near-term. If it extends this month's decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossin would temper the bearish outlook.  

Join the Discussion