EUR/USD no reasons to be bullish. Go Short!!
Updated
- Mixed US data overshadowed by political jitters in the UK.
- EUR/USD hovering around 1.1300 with no life of its own.
The pair is trading around 1.1290, right above the 23.6% retracement of its latest decline, and, in the 4 hours chart, a few pips above a flat 20 SMA. Technical indicators in the mentioned chart have pulled back from their daily highs but regained the upside, with the RSI currently at 47, indicating that buying interest remains limited. The 50% retracement of the mentioned slide stands at 1.1355, while a bearish 100 SMA stands a few pips below it. Seems unlikely that the pair could surpass that area without a strong positive catalyst for the EUR.
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