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Feb 04 - 03:55 PM

EUR/USD - Bulls Cannot Fight The Dollar's Allure

By Christopher Romano  —  Feb 04 - 01:35 PM
  • Pair falls in Europe am on broad based US$ buys, NY opens near 1.1990

  • US$ buys persist as US 10-yr yield & inflation expectations rise

  • US equity gains likely drive further investor flows into US$

  • An early EUR/USD lift near 1.2000 meets sellers, slide ensues

  • Pair breaks below 1.1975 barrier & 50% Fib of 1.1602-1.2349

  • Daily cloud base pierced, 1.1955 trades (EBS) before small bounce ensues

  • Techs remain bearish, RSIs imply bearish momentum is intact

  • EUR/USD longs face bearish risks nL1N2KA1RL, US jobs report looms

  • For more click on FXBUZ







eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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