EURUSD downside risks remain whilst capped by 1.3690 and better 1.3730/30 barriers A setback into the aggressive bullish outside Thursday pattern has
EURUSD downside risks remain whilst capped by 1.3690 and better 1.3730/30 barriers
A setback into the aggressive bullish outside Thursday pattern has highlighted upside reluctance after a minor prod higher stalled at key resistance.
Whilst below 1.3690 chart/ retrace resistance and better chart barriers at 1.3730/35 we see bear pressures intact.
The Thursday plunge to hit our longer term retrace target at 1.3520 leaves bearish pressures intact into mid-June (although we see a strong bias that a low is in place at least through mid-month).
The risk is for a roll lower early this week below 1.3620 for 1.3580.
WHAT CHANGES THIS?
Above 1.3690 eases bear risks; through 1.3735 signals a neutral tone, only shifting positive above 1.3775.
