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Nov 17 - 07:55 PM

EUR/USD - Opens Unchanged After Recovery From Asia Spike Lower

By John Noonan  —  Nov 17 - 05:59 PM
  • EUR/USD opens unchanged around1.1320 after recovering from plunge to 1.1263 in Asia nL1N2S81GN

  • Despite recovery, the EUR/USD remains entrenched in a trend lower

  • The 5, 10 and 21-day MAs are in a bearish formation and pointing lower

  • It has made a lower high and lower low for six straight days

  • Only a break of the 10-day MA at 1.1444 would suggest down-trend is waning

  • A break below 1.1260 targets the 76.4 0f the 2020/2021 move at 1.1040

  • For more click on FXBUZ









Source:
Refinitiv IFR Research/Market Commentary

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