OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD bouncing up to current daily highs - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that US stocks opened the US session in the red, with the dollar also dropping.

Key quotes

"Early data show German inflation data come out in line with previous month readings, slightly above expected."

"In the US front, Personal consumption data result a bit better than expected, with Core reading steady at 1.5% against an expected drop to 1.4%."
"Greenback remains under pressure in the short term, as local share markets point to open with strong losses."

"Technically, the 1 hour chart shows price advancing above a flat 20 SMA with momentum heading higher above 100 and RSI also in positive territory."

"In the 4 hours chart RSI barely corrected oversold readings, while momentum stands below 100 and 20 SMA heads lower above current price."

"The bounce can extend as high as 1.2760/70 price zone, moreover if stocks enter selloff mode, yet further advances seem unlikely for these first days of the week."

EUR/USD: recovery loses steam

EUR/USD continues to hover around the 1.2700level after staging a mild recovery from fresh cycle lows during the European session.
Read more Previous

United States Dallas Fed Manufacturing Business Index increased to 10.8 in September from previous 7.1

Read more Next
Start livechat