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Jul 10 - 03:55 AM

EUR/USD - Expected EUR/USD Range Proving Rock Solid

By Jeremy Boulton  —  Jul 10 - 02:40 AM
  • EUR/USD is not expected to move much ahead EU summit July 17-18

  • In the interim traders have been eyeing ranges roughly centred 1.1150-1.1450

  • Yesterday pair opened bullishly after setting a 20 day best at 1.1371

  • Traders reaction was swift reducing existing longs; cementing range view

  • Break from expected range unlikely. Specs very likely to buy the dip

  • 21-DMA 1.1257. 1.1246 is 61.8% rise from Jun's low. 76.4% is 1.1216

  • Base expected range near 1.1122; min correction target rise from 2020 low



EUR/USD Click here

EUR/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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