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Sep 02 - 09:55 PM

EUR/USD - Modest Bounce, But Fundamentals Weigh

By Andrew M Spencer  —  Sep 02 - 08:25 PM
  • Steady after closing up 0.2% with the U.S. dollar off 0.1%

  • Eurozone PMIs remained in negative territory, as the economy struggles

  • German retail sales unlikely to impact - US ISM manufacturing PMI leads

  • Charts; daily momentum studies fall, 21-day Bollinger bands contract

  • 5, 10 & 21-day & week moving averages conflict - neutral signals

  • A close below 1.0996 0.382% June/August rise would be a bearish signal

  • A close above the 1.1118 10-day moving average would be a positive signal

  • 1.1050 1.143BLN and 1.1070/80 1.406 BLN close strikes for Sep 3rd

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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