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Jan 20 - 02:55 AM

EUR/USD - Short-Term EUR/USD Heads To Neutral Ground, Long-Term Bullish

By Jeremy Boulton  —  Jan 20 - 02:22 AM
  • EUR/USD is slowing moving towards mid-point of 20-day Bollinger at 1.2202

  • Pair peaked at upper band in early Jan, based at lower band this week

  • Dip resulted from recent accumulation of expensive longs IMM/FX

  • Seems washout of those bets has been completed, rebound ensues

  • Rally began immediately after pair met minimum correction for Nov-Jan rise

  • 38.2% 1.1602-1.2349 rise was 1.2064. Low was 1.2054 EBS

  • 38.2% drop from 1.2349 is 1.2167. A point for day traders to pick tops

  • 50% 1.2202. Close over may signal move to news highs, target 1.25-1.26



EUR/USD Click here

EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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