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Aug 03 - 08:55 AM

EUR/USD - Rally Running Out Of Steam, But Bulls Don't Fret

By Richard Pace  —  Aug 03 - 06:35 AM
  • EUR/USD 1.1796-41 range in Asia, extends setback to 1.1720 in early Europe

  • Rally looks to be running out of steam, but bulls shouldn't fret

  • Profit takes from Fri's new 1.1908 not unhealthy, can help trend resumption

  • Reports of decent bids/dip buyers through the low 1.17's

  • Below 10-dma 1.1695, opens 27 July low 1.1640 - bigger buy zone nL1N2F5064

  • Bigger picture still has many traders looking for higher levels over time

  • 1.2000 remains a popular bull target, even beyond by Sept-Oct

  • Related nL1N2F506V


EUR=EBS Click here

Source:
Refinitiv IFR Research/Market Commentary

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