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Nov 27 - 03:48 PM
EUR/USD - Close To The Edge On Data-Driven USD Gains, Low Vols
First appeared on eFXplus on Nov 27 - 01:25 PM
  • EUR/USD falls toward Nov's 1.0989 low on US data beats nL1N2870GS

  • Saw a modest bounce on personal income, core PCE misses nL1N2870QZ

  • But solid spending, strong core durables orders, claims bolster USD

  • Close below 61.8% of Oct's rise & Nov. 14 low @1.0994/89 is a sell

  • Related USD index also on cusp of bullish breakout nL1N2870SP

  • Record low EUR/USD vols, sedate VIX, soaring stocks favour EUR shorts

  • A sub-1.0989 close would target the 76.4% Fibo at 1.0950 next

Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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