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Jun 11 - 04:55 AM

EUR/USD - Factors Set To Influence EUR/USD On Tuesday

By Jeremy Boulton  —  Jun 11 - 03:10 AM
  • Traders have bet over $9 billion on a rise but pair has dropped nL1N3I804U

  • EUR/USD fell 1.0903 to 1.0733 Friday and Monday - 1.0801-1.0799 gap lower

  • Long positions will continue to weigh on recovery from Monday's low

  • The sharp drop became stretched below base 20-day Bollingers - last 1.0770

  • Pair has drifted toward base Bollingers and drop still stretched

  • Daily Ichimoku cloud 1.0737-93 helped define Mon's 1.0799-33 range

  • Break from cloud should excite - weight longs suggesting more downside risk

Source:
Refinitiv IFR Research/Market Commentary

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