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Jan 24 - 03:48 PM

EUR/USD - No Relief For Longs Into The Weekend

By Christopher Romano  —  Jan 24 - 01:25 PM
  • Some upbeat DE & EZ PMI data cannot help EUR/USD longs nL1N29T0EM

  • Pair holds tight range in early NY but bears eventually assert themselves

  • DE-US spreads tighten but bund yield fall helps weigh down EUR/USD

  • Virus concerns help EUR/USD bears as drive safe haven flows sink EUR/JPY

  • EUR/USD slides below 1.1020 but stalls near 61.8 Fib of 1.0879-1.1240

  • Virtually no bounce seen & RSIs imply bear momentum remains

  • EUR/USD bulls have very little incentive to act nL1N29T0LV

chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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