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Sep 10 - 12:12 AM
EUR/USD - Reversal May Fizzle Out Again Unless 1.1111 Breaks
First appeared on eFXplus on Sep 09 - 10:55 PM
  • EUR/USD runs out of steam, failing to even cross 20 DMA on EBS at 1.1063
  • Return to downtrend possible, in repeat of early Aug price action
  • Bullish reversal pattern may again be overturned at Bollinger band 1.1111
  • Previous failures to close inside Bollinger uptrend channel cued selloff
  • ECB decision Thurs is key event risk for EUR/USD, before FOMC next week
  • Looking ahead, market expects Fed to cut more aggressively than ECB

EUR: Click here

Source:
Refinitiv IFR Research/Market Commentary

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