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Jul 29 - 07:55 AM

EUR/USD - Bulls Shouldn't Get Carried Away

By Richard Pace  —  Jul 29 - 06:02 AM
  • Better German jobs, state CPI gains aid post Fed EUR/USD support

  • Month end USD weakness touted, so those flows should soon fade

  • EUR broke 23.6% of 1.2266-1.1752 May-Jul drop 1.1873, but struggles above

  • Close above Fibo needed to reinforce potential to 38.2% at 1.1948

  • EUR also needs to break 12/6 July daily highs 1.1884-95

  • Thurs range 1.1841-79, 1.7bln option expiry 1.1850, support 21DMA 1.1821

  • Volatility measures ease, options erase directional premium nL1N2P50F7



For more click on FXBUZ


EUR=EBS Click here

EUR/USD 1-3 month expiry option risk reversals Click here

Source:
Refinitiv IFR Research/Market Commentary

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