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Aug 23 - 11:55 AM

EUR/USD - US PMI Helps Generate Warning Signs For Shorts

By Christopher Romano  —  Aug 23 - 09:55 AM
  • EUR/USD rallied away from its 0.99005 EBS low in early NY

  • US Aug. S&P Global PMI indicates contracting business activity nZON0066ZW

  • US rates EDZ2US2YT=RR soften after the data, US$ falls sharply

  • PMI data stokes investors concerns for slower US economic growth

  • EUR/USD spikes higher, hits 0.9997 on EBS and holds most of the gains

  • Daily RSI diverged on the low, daily bull hammer candle has formed

  • Daily tech signals indicate the risk of a short squeeze is growing

  • For more click on FXBUZ






Source:
Refinitiv IFR Research/Market Commentary

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