The EUR/USD has made a rather rapid retreat from the 200 day moving average after yesterday's FOMC meeting.
Although we don't call the end of trends until they are completely dead, it certainly looks like a potential topping around the 200 day MA, not to mention that other pairs such as AUD/USD appear to be topping out.
I am still not convinced that the Dollar is ready to reverse course, but today's rally is difficult to argue with. This could be the early stages of a reversal.
Although we don't call the end of trends until they are completely dead, it certainly looks like a potential topping around the 200 day MA, not to mention that other pairs such as AUD/USD appear to be topping out.
I am still not convinced that the Dollar is ready to reverse course, but today's rally is difficult to argue with. This could be the early stages of a reversal.
Comments
No comments yet. Leave a Comment