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TDUX
Aug 18 - 05:55 PM

EUR/USD - Early Gains Erode As Risk-Off Drives Bid For Safety

By Christopher Romano  —  Aug 18 - 01:45 PM

• NY opened near 1.1575 after EUR/USD traded a tight range in Asia & Europe

• The pair rallied early as the USD traded downward; 1.1589 traded

• Sellers then emerged as risk soured after Pres. Trump comments on negotiations

• Stocks turned lower, gold & silver added to losses, USD/CNH neared the overnight high

• EUR/USD hit 1.1575 in NY's afternoon, it traded down -0.05% late in the day

• Daily RSI, price drop following Monday's inverted hammer are concerns for bulls
eurusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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