DAILY SPOT EURUSD - signals point lower
The rally from last week's low stalled short of the key 13 day mvg avg. That suggested the negative bias highlighted in this week's report and yesterday's price action went some way to confirming this. Selling interest at marginally lower levels was extended throughout Asia and Europe with only the latter part of the day seeing the downside consolidate. Last week's lows have now been breached with a renewal of selling interest in Asia. Oversold extremes are a concern but this morning’s call is a Sell but leaving room to Sell any Rally to 1.1733, Asian open. The risk is 1.1764 with an immediate target of 1.1685. A move through that point then exposes sentiment to 1.1662, the 7 week base, or even 1.1635.
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