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Aug 11 - 05:55 AM

EUR/USD - Is Struggling To Rise Because Its Overbought

By Jeremy Boulton  —  Aug 11 - 03:45 AM
  • Aug 10 EUR/USD rocketed far above top 20-day Bollingers and snapped back

  • Aug 11 EUR/USD has risen back above the peak of the bands

  • This may be an opportunity to sell nL1N2ZN0DD

  • From a longer-term perspective rally isn't stretched

  • Mid-point 20-week bands is 1.0515, base 20-month is 1.0143

  • However, there are many short-term traders so daily chart matters




Source:
Refinitiv IFR Research/Market Commentary

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