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Nov 04 - 07:55 AM

EUR/USD - Post-Fed Flip-Flop Tells EUR/USD Traders A Great Deal

By Jeremy Boulton  —  Nov 04 - 05:59 AM
  • EUR/USD traded a whipsaw pattern after Fed yesterday nL1N2RV003

  • Initial dip to 1.1572 EBS followed by rise to 1.1615

  • Slow drift lower to 1.1570 in Asia then quick drop to 1.1550 in Europe

  • Drop follows release softer then expected German ind orders 1.3% vs 2% f/c

  • It has taken several hours to carve out a further 3 pips of downside

  • Specs are uncertain but the trend, while unexciting is solid

  • EUR/USD should maintain this year's pattern of slowly declining ranges

  • Vols have fallen and quiet times should weigh negative yield euro

  • Stocks have risen, the broader environment continues to underpin risk taking

  • Good chance EUR/USD ends this year within 1.14-1.17


EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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