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Jul 20 - 08:55 AM

EUR/USD - Europe's Energy Concerns, Key Fibo Put Longs On Defense

By Christopher Romano  —  Jul 20 - 07:50 AM
  • Upbeat risk overnight rallied equities ESv1, commodities HGv1, yields

  • EUR/USD broke 38.2% Fib of 1.0787-0.9952, 10-day high of 1.0273 hit on EBS

  • EU's von der Leyen says cut of Russian gas a likely scenario nFWN2Z12YG

  • Risk sours; equities turn -ve, US$ & yen bought, USD/CNH pierced 6.7600

  • EUR/JPY turned -ve, hit 140.67 on EBS, EUR/USD fell to 1.0173 on EBS

  • Diverging daily RSI, Fibo resistance, falling monthly RSI are bear signs

  • Thursday's ECB meeting looms, range trade likely until the risk passes

  • For more click on FXBUZ



Source:
Refinitiv IFR Research/Market Commentary

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