Euro's failure to hold above 117.36 (100% Fibo extension) for two weeks coupled with last week's gravestone Doji candle and a rejection t 10-WMA today suggests the currency is likely to test 5-WMA level of 114.75 before resuming another leg higher.
The bearish view is at risk of a daily closing above 117.36, still caution is advised as long as prices do not see a convincing break above last week's high of 118.46
The bearish view is at risk of a daily closing above 117.36, still caution is advised as long as prices do not see a convincing break above last week's high of 118.46
