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Sep 21 - 04:55 AM

EUR/USD - REFILE-BUZZ-CNH Drop Is Good News For EUR/USD Traders

By Jeremy Boulton  —  Sep 21 - 02:40 AM

Adds chart

  • CNH rose 3.6% between July 31 and Sep 17

  • CNH has since dropped. Two day decline of 0.5%

  • CNH has a big effect on large TWI components like EUR

  • Day CNH began its rise EUR/USD reached 1.1908 then struggled

  • In July EUR/USD rose rapidly, thereafter rally slowed markedly

  • CNH peaked Sep 17. EUR/USD has rebounded strongly from Sep 17 low @ 1.1737

  • Likely more EUR/USD longs pared before uptrend is resumed nL2N2GI053


CNH TWI Click here

Source:
Refinitiv IFR Research/Market Commentary

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