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EUR/USD, risk for a sell-off to 1.32 increases; close below 20-D EMA needed - 2ndSkies

FXstreet.com (Barcelona) – After the topside failure above 1.3400, the EUR/USD retreated towards 1.3330, where the 20-day EMA dynamic support was encountered, providing bulls with another opportunity to retest 1.34 last Friday.

According to Chris Capre, Founder at 2ndSkies: “EUR/USD found support at the daily 20ema, although this rejection is a bit meeker than the previous three”, which makes Capre think that “bulls are going to have a tough time convincing new players to come in on a break considering how close price is sitting below the 20ema.”

On the most ideal entry points, Capre suggests that “bearish players can look for …read more