EURUSD sentiment turns bearish
EURUSD's strong upside rejection on Friday of levels above the 13 and 100 Day Moving Averages left our signals for sentiment for this week as bearish.
That has yet to be confirmed as Monday’s price action was muted below those lines, but above the 200 DMA. Without a rally in the pair, most indicators look bearish at this point.
Management and risk description
A move below 1.1123 means the stop can be lowered to break even.
Entry: Sell in 1.1150/55 area and any rally to 1.1166.
Stop: 1.1196 bid.
Target: 1.1123, 1.1106 or even 1.1069.
Time horizon: Intraday, ending London 1600.
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