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Sep 01 - 05:55 AM

EUR/USD - Chart Bearish, While Dollar Will Likely Climb

By Martin Miller  —  Sep 01 - 04:00 AM
  • There are multiple reasons why dollar will likely climb nL1N3070JF

  • EUR/USD's long upper shadow on Fri's candle is a very negative sign

  • Spot likely to break below 0.9900, which will accelerate losses further

  • Fourteen-day momentum remains negative, reinforcing the bearish market

  • 1.0110 Fibo, 23.6% retrace of 1.0787-0.9901 (EBS) drop, limits upside

  • We remain short at 0.9995 for 0.9700. EUR/USD Trader TGM2334

Source:
Refinitiv IFR Research/Market Commentary

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