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Nov 12 - 04:55 AM

EUR/USD - Cannot Shake Off Its Shackles

By Jeremy Boulton  —  Nov 12 - 03:00 AM
  • EUR/USD tried and failed to break higher reaching 1.1920 Nov 9

  • Previously pair tried and failed to break lower reaching 1.1602 on Nov 4

  • These are the limits of moves fuelled by major events

  • If U.S. election and vaccine cannot trigger break, likely stuck this year

  • ECB expected to ease Dec 10, much selling related to that is probably done

  • Year-end position adjustment is biggest risk for traders sitting long

  • Next year EUR/USD will move depending on U.S. stimulus. If seen and how big



EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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