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TDUX
Oct 12 - 03:55 PM
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EUR/USD - Bulls Cannot Overcome The Dollar's Power

By Christopher Romano  —  Oct 12 - 01:42 PM

(In line 4 corrects to 17-month low)

• NY opened near 1.1180 after 1.1217 traded overnight, the drop then extended

• USD buying weighed on the pair as did USD/CNH's lift off its session low

• Oil gains and drops in gold, silver, equities added weight on EUR/USD

• The pair hit a fresh 17-month low of 1.1154 and sat nearby late in the day

• EUR/USD traded down -0.36% in NY's afternoon which helped keep techs bearish

• RSIs. widening Bolli bands, inverted daily hammer candle are bearish signals

• EUR/USD's hold below downward sloping 10-,21-, 55- & 200-DMAs is also bearish
eurusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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