Exercise-Discipline

Is this the top for EURUSD? Momentum slowing on DAILY chart

بيع
FX:EURUSD   يورو / دولار أمريكى
Is this a medium term top for EURUSD?


Technicals

Bearish divergence seen on daily chart.

Upside momentum is slowing.

DXY showing same, if not stronger divergence.


Sentiment

Consensus has become EUR positive - in fact, extremely EUR positive.


Fundamentals

All banks raising long term forecasts for EUR.

Even though last month's inflation reading missed expectations, and Draghi wasn't hawkish at all!

This week's ECB conference, UK elections, and next week's Fed meeting all may impact.

Perhaps end of May flows were responsible for the last push up in EURUSD, now may start to fall as fundamentals come back in play.
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