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Thomson Reuters
Jan 10 - 05:00 AM
EUR/USD - Bulls Face A Huge Hurdle They Probably Cannot Cross
First appeared on eFXplus on Jan 10 - 03:05 AM
  • EUR/USD short-covering lifts the pair as high as 1.1570
  • 1.1587 is 61.8% retrace pair's Sep-Nov decline from 1.1815 to 1.1216
  • Key Oct 16 peak is 1.1622 (pair fell to 1.1216 after within one month)
  • Major highs seen Sep 29/Oct 1 highs 1.1651/1.1629 (fell to 1.1432 by Oct 9)
  • Long-term rates little changed from late Sep levels, still weigh EUR/USD
  • Attractive carry should draw investors to sell this speculative EUR/USD rise

eurusd daily chart Click here

long-term US/German yield spread and 3-month forwards swap Click here

Source:
Thomson Reuters IFR Markets

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