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Aug 19 - 03:55 AM

EUR/USD - Is Already Stretching The Envelope, Top Picking Advisable

By Jeremy Boulton  —  Aug 19 - 02:27 AM
  • EUR/USD has quickly dropped to press the base of 20-day Bollinger bands

  • Bands are falling which allows for a deeper decline but caution warranted

  • 20-Day bands 1.1787-1.1663, today's range 1.1666-1.1715 EBS

  • Dip below base bands possible but sustained weakness below unlikely

  • Bears would be wise to await strength before selling for 1.1600 target

  • Area between Aug 12 low at 1.1724 and Aug 16 peak 1.1743 should cap

  • Support at Sep and Nov 2020 low 1.1613/1.1602


EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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