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Thomson Reuters
May 07 - 12:12 PM
EUR/USD - Bulls Get Sinking Feeling After EC Econ Projections
First appeared on eFXplus on May 07 - 09:00 AM
  • EC downgrades EZ & DE GDP outlook nB5N1ZW00Z, ups IT deficit nB5N1XP020
  • DE bund price rally, yields dive, 10-year DE-US yield spreads widen
  • EUR/USD slide begun in Europe's morning deepens, 10-DMA is neared
  • US$ stays firms on US-Sino trade fears and soured risk environment
  • EUR/USD techs lean bearish, 21-DMA caps gains & RSIs biased down
  • 1.1155 & 1.1135 areas are s-t support, break of latter targets 2019 low
  • Break of May 2 high & 21-DMA targets 1.1265/69 (May 1 high, 55-DMA)

chart: Click here

Source:
Thomson Reuters IFR Markets

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