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Nov 19 - 04:55 AM

EUR/USD - Corrections Won't Amount To Much This Year

By Jeremy Boulton  —  Nov 19 - 03:34 AM
  • EUR/USD corrections are unlikely to go much beyond 1.1500 this year

  • Traders are long and after the big drop more are losing nL1N2S70DO

  • Long liquidation will continue to weigh EUR/USD this year

  • Pair likely to see minor upside corrections at best, possibly big drop

  • Correction of Oct-Nov drop is 1.1426

  • Correction of Sep-Nov drop is 1.1510

  • EUR/USD in process of breaking below 21-QMA, happens rarely

  • Drops below after prior breaks have been large between 22 and 11%






EURUSD quarterly Click here

EURUSD Sep-Dec retracements Click here

EURUSD Oct-Nov retracements Click here

Source:
Refinitiv IFR Research/Market Commentary

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