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Jan 07 - 07:55 AM

EUR/USD - Heads South And Euro Zone Data Does Too

By Jeremy Boulton  —  Jan 07 - 05:52 AM
  • EUR/USD capped 1.2359 yesterday then bounced 1.2266 to 1.2345 in Asia today

  • Europe sees a gradual slide from 1.2325 high to 1.2251 low EBS

  • Mid-point of 20-day Bollinger band at 1.2220. Lower-Bollinger 1.2103

  • EUR/USD has traded cleanly above BB mid-point since Nov 13 2020

  • Traders are broadly long and downside stops are numerous

  • Progression lower likely as a bullish situation is further adjusted

  • Data weighs. EZ HICP -0.3% in Dec from -0.2% yy. Nov retail sales -6.1% mm


EUR/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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