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Dec 30 - 03:48 PM
EUR/USD - Bears Losing Their Grip, But 1.1280S A Big Challenge
First appeared on eFXplus on Dec 30 - 01:30 PM
  • EUR/USD has cleared its 200-DMA and 50-WMAs at 1.1142/81, now props

  • Prices trying to close above 61.8% of the June-October drop at 1.1208

  • Tighter 10-yr Bund-Treasury yield spreads, less trade angst support

  • ABC target off Oct, Nov bases, weekly cloud base & 76.4% are at 1.1281/2/4

  • Also have mid-July highs in the 1.1280-85 range & daily RSI getting O/B

  • Sizeable IMM net shorts & 1-mo vols surging off record lows look supportive

  • EU-UK Brexit deal talks in 2020, more US-China tariff reductions key M-T

Chart: Click here

Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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