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Thomson Reuters
May 09 - 12:12 PM
EUR/USD - Quick Melt Up Catches Traders Off-Guard
First appeared on eFXplus on May 09 - 10:10 AM
  • Broad US$ sell-off as 10-year Treasury yield breaks May 8 low
  • DE-US yield spreads add to earlier tightening, EUR/USD spikes up
  • 21-DMA and May 2 high break, stops above get run, 1.1250 neared
  • RSIs turn up, bulls gain some momentum but should still move cautiously
  • U.S.-Sino trade issues linger, some headlines likely later in U.S. evening
  • 55-DMA, May 1 & daily cloud base are next resistances targeted by bulls

chart: Click here

Thomson Reuters IFR Markets


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