The last 5 days of trading in EURUSD has fluctuated around the key 13 day moving average. A lack of more significant profit taking from this month’s low or a clear renewal of selling pressure means that signals for sentiment are not strong in the immediate term, especially with a daily Keltner channel that is showing signs of flattening.
However, studies remain mildly negative with rallies likely to be capped near to 1.2666. Potential on the downside to 1.2624 and 1.2605.
