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Aug 06 - 09:48 PM
EUR/USD - Consolidating Before Next Attempt Higher
First appeared on eFXplus on Aug 06 - 08:00 PM
  • EUR/USD opens unchanged after choppy trading on Tuesday
  • EUR/USD moves higher when US-China trade war escalates
  • Calm before next trade-war storm capped EUR/USD rally below fibo resistance
  • The 61.8 of 1.1412/1.1027 move comes in @ 1.1264 and break would be bullish
  • Buying dips favoured strategy, as trade war likely to drag on and escalate
  • Downside limited due to potential of US intervening if USD strengthens
  • EUR/USD support at 10-day MA at 1.1144 and break eases upward pressure

eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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