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Sep 03 - 09:48 PM
EUR/USD - Nice Bounce But Trend Is Lower
First appeared on eFXplus on Sep 03 - 07:40 PM
  • EUR/USD made a solid recovery from a fresh 2-year low at 1.0926
  • Weak US ISM Mfg sent US yields and USD broadly lower
  • Despite 0.45% bounce from the low - the trend is clearly down
  • A break above former support at 1.1027 needed to suggest a correction
  • The 5, 10 and 21-day MAs in bearish alignment and pointing lower
  • Selling rallies the favoured strategy in the short-term at least

eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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