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Jul 11 - 04:55 AM

EUR/USD - Soon EUR/USD Will Fall

By Jeremy Boulton  —  Jul 11 - 03:10 AM
  • Rapid EUR/USD drop last week saw tech situation stretched

  • EUR/USD dropped below base 20-Day Bollinger bands

  • Situation was extreme so pair even bounced after strong NFP data

  • Base 20-day Bollingers has since dropped and is now 1.0129

  • Base 20-week is 1.0140, 20-month 1.0257

  • Steepening drops for bands will soon allow for a deeper decline

  • Traders are ill-prepared for EUR/USD to drop nL1N2YS0AY

  • Situation with broader USD is also extreme nL1N2YS0C6




Source:
Refinitiv IFR Research/Market Commentary

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