The US dollar was under selling pressure until the early Tokyo, with EUR / USD last at 1.0740 session high, extending the rebound seen in the early hours of the US, when it reached 1.0675 lows.
EUR / USD: Sellers either in control
Valeria Bednarik, Chief Analyst at FXstreet, share price action of EUR / USD Tuesday, noted: "There is no macro economic news that is relevant to guide investors, but beliefs through rise in US interest rates will come next December in force, even though the finance minister of US Lew expressed concern over the international woes affecting the US economy. "
Traders should be reminded that while in Europe will be doing business as usual, the US has a bank holiday this Wednesday, which should see a decrease in activity / volatility.
EUR / USD: Technical
Technically, Valeria reaffirmed in a report that the US daily, that "potential bearish firmly in place, there is no sign of a change in bias long term, based imbalance clear distinction between monetary policy of both countries. By scanning the 4-hour chart, Valeria identifies" SMA 20 has extended lower, now around 1.0775, while the RSI indicator is hardly bounces from oversold readings and Momentum indicators aiming higher below the 100 level, suggesting corrective upward movement is underway. "
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