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May 20 - 02:36 PM

EUR/USD - Longs Struggle To Stay In The Cloud

By Christopher Romano  —  May 19 - 02:25 PM
  • NY opens with EUR/USD trading above the daily cloud base

  • Pair buoyed on broad euro buying due to recovery plan nL1N2D10PI

  • EUR/USD dragged lower as EUR/JPY slides away from its 118.20 EBS high

  • Buyers emerge near 1.0925 as US$ sellers emerge & EUR/JPY bounces

  • EUR/USD climbs back above the 55-DMA, sits near 1.0950 late

  • Rising daily RSI, long lower wick on May candle highlight bullish techs

  • Recovery proposal buoys EUR/USD but bulls need plan agreement nL1N2D1105















eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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