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Sep 13 - 03:55 PM

EUR/USD - Bulls Cede Some Ground Into The Weekend

By Christopher Romano  —  Sep 13 - 01:45 PM
  • NY opened near 1.1090 then dipped below 1.1080, buyers emerged

  • Tighter DE-US spreads US2DE2=RR, US$ drop lifted EUR/USD to 1.1102 on EBS

  • Pair slide below 1.1080 again despite equity, gold gains & USD/CNH drop

  • EUR/JPY fall to 155.65 helped push EUR/USD lower, pair was up +0.07% late

  • Techs lean bullish; daily, monthly RSIs rising, pair traded above the 5-DMA

  • Bull flag pattern on daily chart reinforces the bullish signals

  • Fed rate decision & Powell presser will be the main events next week

  • US August retail sales is a risk ahead of the Fed meeting

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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