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Sep 03 - 04:55 PM

EUR/USD - Rebounds Away From Weekly Sell Signal Threat

By Randolph Donney  —  Sep 03 - 02:55 PM
  • EUR/USD recovers from today's 1.1789 low on EBS

  • Bulls again defend prior week's 1.17625 low

  • Last week's low was the 9th consecutive higher weekly low

  • Bulls tenacious in face of big overbought sells, false 1.20 breakout

  • Also shrug off weaker EZ data & questionable US data beats nL1N2G00ZA

  • France's 100 bln EUR fiscal stimulus may take some pressure off ECB

  • Stocks drop generally bearish for EUR/USD, but seems more US-centric

  • US NFP, the ECB next week; ECB eyed for EUR rise-aided deflation risk

  • 30-DMA at 1.1819 breached, but close below needed to spook longs

  • Decent resistance by 1.1900 ahead of the 1.2014 trend high

For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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