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May 31 - 03:55 PM

EUR/USD - Dip Bought As A Bullish Month Comes To An End

By Christopher Romano  —  May 31 - 01:50 PM
  • Inflation, rate hikes concerns drive risk-off overnight & early NY

  • EUR/USD fell sharply in Europe, NY opened near 1.0700 nL1N2XN0X0

  • Pair hit 1.0679 on EBS in NY but risk sentiment improved slightly

  • Equity ESv1 gains, U$ sales & tighter DE-US 2-year spreads help buoy

  • Pair near 1.0730 late, down near -0.45% on the day but up big for the month

  • Diverging monthly RSI, monthly bull hammer candle are very bullish signals

  • EUR/USD longs reminded markets are a two-way street nL1N2XN1GE

  • For more click on FXBUZ



eurusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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