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Dec 28 - 05:55 AM

EUR/USD's Pause Likely To End With A Bang, Eventually

By Martin Miller  —  Dec 28 - 04:40 AM
  • EUR/USD has seen a tight 1.0625-1.0654 Wed range, according to EBS prices

  • Spot has remained stuck below this week's 1.0669 peak, but for how long?

  • 14-day momentum remains positive, reinforcing the bullish market structure

  • EUR/USD could soar if it finishes December above the 1.0606 Fibo

  • 1.0606 Fibo is a 38.2% retrace of 1.2349 to 0.9528 (2021 to 2022) EBS drop

  • Sentiment has turned against the fragile dollar nL1N33G0F0

  • Renewed dollar weakness would likely drive EUR/USD higher in coming sessions

Source:
Refinitiv IFR Research/Market Commentary

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