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Oct 29 - 08:36 PM
EUR/USD - Longs Get A Foothold Ahead Of The Fed
First appeared on eFXplus on Oct 29 - 01:30 PM
  • Dollar strength in Europe's morning fades into NY's open

  • EUR/USD rallies from 1.1065/75 support zone as NY gets going

  • US data nL2N27E0KG sinks short-term US rates & US$, EUR/USD buoyed

  • Pair pierces the daily cloud top & nears the 10-DMA before pulling back

  • Rising RSIs, daily bull hammer, monthly bull engulfing candle favor bulls

  • Fed meeting FEDWATCH, Oct ADP, Q3 GDP are key risks Wednesday

  • For now dollar bears show little concerns for Fed risk nL2N27E0JV







chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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