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Apr 21 - 05:55 AM

EUR/USD - Don't Be Fooled By This Minor EUR/USD Correction

By Jeremy Boulton  —  Apr 21 - 03:35 AM
  • EUR/USD has surged this week but it is a minor move

  • This is not the trend change that traders are betting on nL2N2WH0A0

  • Minor correction targets for 2022's drop are 1.0931 and 1.1039

  • EUR/USD traded down 1.0894 to 1.0758 day last ECB meeting

  • 21-DMA now 1.0925 crossed 55-DMA in March spurring EUR/USD drop

  • The trend is down and sustainable gains are unlikely

  • Those who buying into strength are likely to lose

  • Picking tops in preparation for a deeper drop is prudent

  • Yuan's reverse will influence EUR over l-term nL2N2WJ0CC


EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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