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Sep 26 - 08:36 AM
EUR/USD - COMMENT-Dollar Nears 2019 Peak As EUR/USD Drops Like A Stone
First appeared on eFXplus on Sep 26 - 06:15 AM

The dollar found broad support on Thursday as investors welcomed U.S. President Donald Trump's hints of progress toward a trade deal with China and discounted chances an impeachment inquiry would make much headway for now nL3N26H07P.
On Wednesday, the USD index, which tracks the dollar versus a basket of six currencies, saw the biggest daily points rise since March 7.
That keeps the bias on the upside; breaking the Sept.
12 99.109 high to unmask the 99.378 2019 peak.
The dollar's bullish structure has been reinforced by the continued positive alignment of the daily technical tenkan and kijun lines.
The euro is by far the biggest component of the USD index, so a EUR/USD break and daily close below the 2019 1.0926 low will give dollar bulls a bigger boost.
The bulls need to be careful, though -- the options market so far is showing little concern for a breach of large barriers at 1.0900 nL2N26H07E.
Related nL2N26D0AV.


USD Index Daily Ichimoku Chart: Click here

EUR/USD Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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