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Thomson Reuters
Feb 12 - 03:48 PM
EUR/USD - Bears Reminded About Range Trading
First appeared on eFXplus on Feb 12 - 01:40 PM
  • New short-term low set in Europe but losses reverse on upbeat risk sentiment
  • Hopes for US-Sino trade progress rallied EM and weakened yen, EUR/JPY lifts
  • Market caught short EUR/USD, scramble to cover on 1.1320/30 break
  • Rally extends near 1.1340, very little pullback as the US$ stays heavy
  • Daily bull engulfing candle & diverging RSI suggest more gains are due
  • Trade talk induced gains are likely to be short-lived nL1N2070SF

chart: Click here

Source:
Thomson Reuters IFR Markets

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