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Thomson Reuters
May 24 - 05:00 AM
EUR/USD - Is This EUR/USD Rise Just Another Chance To Sell?
First appeared on eFXplus on May 24 - 02:50 AM
  • EUR/USD new trend low @ 1.1106 yesterday then rebound reaching 1.1205 today
  • Pair closed over 21-DMA @ 1.1189 but drivers for the rally have dissipated
  • Rebound was triggered by risk aversion stemming stocks and oil falls
  • Both oil and stocks have stabilised. Mood to pare euro shorts likely fades
  • Further rise likely depends on initiation tech inspired longs, counter trend
  • 55-DMA 1.1237/May 13 high to offer strong resistance. Trends are your friend

EUR/USD daily Click here

Source:
Thomson Reuters IFR Markets

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