Euro lags easing bias this morning in the wake of the negative direction of the main European and U.S. equity markets. Technical analysis also gives important clues about the potential still important for clearance to come to this asset class risk, and this morning the CAC 40 and the Dax are still unable to register the beginning of a rebound technique. This situation penalizes the Euro on the foreign exchange market, currency traders prefer to opt for safe-haven assets, in primis the greenback.
Around 10:30, the spot EURUSD is approximately 1.2310.
From a graphical perspective, the timid rebound which began on June 23 showed its limits. The movement of exhaustion observed around the moving average 100 hours (drawn to orange zone) will allow traders to contemplate the return of pressure vendors. A goal will be close to 1.2210 in the viewfinder of operators.
Hourly data chart:
Daily data chart:
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