Euro Rebounds But Gains Remain Weak

April 28, 2020

By Orbex

The euro currency managed to build upon the bullish momentum from Friday.

However, after rising to intraday highs of 1.0860, the euro pulled back.

EURUSD remains stuck within the range of 1.0950 and 1.0787.

The current hidden divergence on the Stochastics suggests a possible move back to the downside.

The lower end of the range at 1.0787 could once again be tested.

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However, watch for a possible higher-low formation. This could suggest an imminent continuation higher.

By Orbex

 

5 years ago