New bearish attempt to break lower. Short.

2 thg 8, 2018

Following DX's strong support bounce at 93.90, EURUSD was again rejected at 1.17310 forming a new minor 4H Channel Down (RSI = 38.582, Highs/Lows = -0.0041). 1D has again crossed into the bearish zone (RSI = 44.388, Williams = -68.539) but only marginally, and since it has been practically trading sideways since late May, calling a new Low bears additional risk. With DX however on a 1D Rising Wedge (Higher Lows) it is not unrealistic to expect a new High above 95.45. Based on that we are keeping our TP = 1.15531.