EUR/USD: Consolidation on the table – OCBC
Source Fxstreet
Euro (EUR) shorts continued to face the squeeze as USD, UST yield eased. Pair was last at 1.0546 levels, OCBC’s FX analysts Frances Cheung and Christopher Wong note.
Possible EUR short squeeze near term
“Daily momentum shows signs of turning bullish RSI rose. Bullish divergence is observed on daily MACD is playing out. We continue to caution for EUR short squeeze in the near term.”
“Resistance at 1.0580, 1.0640 (21 DMA). Key support at 1.0490, 1.0450 levels before 1.03. Focus this week on Euro-area CPI (Fri). Upside surprise may aid the squeeze in EUR shorts.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The Japanese Yen (JPY) rallied to the highest level since early February against its American counterpart on Friday amid bets for an imminent shift in the Bank of Japan's (BoJ) policy stance.
Natural Gas sinks to pivotal level as China’s demand slumpsNatural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
FedEx could unlock $10-20bln in shareholder value from potential freight spin-offInvesting.com -- FedEx Corporation (NYSE:FDX) could unlock $10 billion to $20 billion in incremental shareholder value by spinning off its freight business into a standalone company, Barclays (LON:BARC) analysts said in a note.
Investing.com -- FedEx Corporation (NYSE:FDX) could unlock $10 billion to $20 billion in incremental shareholder value by spinning off its freight business into a standalone company, Barclays (LON:BARC) analysts said in a note.
Nvidia will sell more GPUs in 2025 than in 2024.
FTC probes Uber over subscription service practices, Bloomberg News reportsInvesting.com -- The U.S. Federal Trade Commission is investigating Uber Technologies Inc (NYSE:UBER) over allegations that it enrolled customers into its Uber One subscription service without consent and made it challenging for them to cancel, according to a Bloomberg report.
Investing.com -- The U.S. Federal Trade Commission is investigating Uber Technologies Inc (NYSE:UBER) over allegations that it enrolled customers into its Uber One subscription service without consent and made it challenging for them to cancel, according to a Bloomberg report.
Related Instrument
