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Aug 24 - 05:55 PM

EUR/USD - Indecision Reigns Despite The Risk-On Sentiment

By Christopher Romano  —  Aug 24 - 02:03 PM
  • EUR/USD falls below the 10-DMA overnight, 1.17275 trades on EBS

  • Buyers emerge though, NY opens near 1.1735, EUR/USD rallies in early NY

  • Risk on drives sales of safe-haven US$ & yen, lifts equities & oil

  • EUR/JPY rallies to 129.00 on EBS, EUR/USD lifts to 1.17655 on EBS

  • US$ buying ensues at Europe close, NY afternoon, EUR/USD sinks

  • Pair gives up gains, nears flat on the day, sits near 1.1745 late

  • Daily doji candle forms which suggests investor indecision

  • EUR/USD test of key Fibos still seems likely for now nL1N2PV13U

  • Fed Jackson Hole risk looms, taper talk could drive EUR/USD down

  • For more click on FXBUZ

eurusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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