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Nov 27 - 05:55 AM

EUR/USD - Series Of Rising EUR/USD Lows Sends A Very Positive Signal

By Jeremy Boulton  —  Nov 27 - 04:10 AM
  • Last four days EUR/USD has set a higher daily low

  • This bullish trend began at an elevated point within 2020's uptrend

  • Nov 23 low 1.1800, Nov 24 low 1.1838, Nov 25 1.1882, Nov 26 1.1885

  • Today Nov 27 the low so far is 1.1908 EBS

  • Not only extends trend but also represents change of big figure

  • Stability at this point would suggest real money supply is waning

  • Corp, option, reserves operations may have been sated. Less resistance

  • In contrast specs who have reduced longs will react to a break over 1.20



EUR/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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