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Feb 06 - 02:36 PM

EUR/USD - Shorts See No Signs They're Wrong

By Christopher Romano  —  Feb 06 - 12:50 PM
  • More upbeat US data bolsters bear sentiment for EUR/USD nL1N2A60IL

  • Shorts take advantage of data, carry trades and send pair to 4-month low

  • Further downside is likely if Janaury jobs reports is upbeat nL1N2A60T2

  • Pair holds below the falling 10- & 21-DMAs while daily, monthly RSIs drop

  • Techs suggest a deeper fall is due, 1.0940/45 zone & 2019's low are targets

  • EUR/USD bears need above 1.1100/30 to damage the recent bear trend





chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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