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Feb 14 - 03:48 PM

EUR/USD - REFILE-BUZZ-EUR/USD-Set To Close Week Below 2019's Low, Bears Loom

By Randolph Donney  —  Feb 14 - 01:55 PM

COMMENT identifier removed from headline

  • Weak US sales data nL1N2AE0H7 only cushioning EUR/USD's fall

  • EZ and Germany's Q4 Q/Q GDP at 0.1% and 0% compares t0 +2.1% in US

  • Also concern EZ is more exposed to China virus economic fallout than US

  • But if today's 1.0827 low holds Monday, an oversold bounce is doable

  • That bounce would likely run into good supply at 1.0925-30 nL1N2AE0KU

  • At the moment, today's range is wholly below 2019's 1.0879 low

  • A weekly close below 76.4% of the 2016-18 rally at 1.0863 targets 1.0340

  • A price gap from April 2017 between 1.0821 & 1.0778 to be filled on the way

Chart: Click here

Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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