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Jul 20 - 04:55 AM

EUR/USD - For EUR/USD Very Little Has Changed

By Jeremy Boulton  —  Jul 20 - 02:43 AM
  • It's still quiet EUR/USD vol inches higher 5.6 from recent lows around 5.0

  • Interest rates have not moved, 1 and 12 month forward swaps static

  • EUR/USD back within the 1.16-1.20 area that contained Jul/Nov 2020

  • EUR/USD is yet to meet the mininum target for tech correction of its rise

  • Low 1.1704 short 1.1695 which is 38.2% 1.1636-1.2349 (Mar 2020-Jan 2021)

  • 38.2% from 1.0340 (2016 low) is 1.1582

  • Lows during Jul/Nov fell just short 1.1582 (1.1615/1.1602)

  • Main change is 50% rise in short positions, traders prepared for the drop




EURUSD Click here

EURUSD Click here

EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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