EUR/USD looks set to extend its countertrend move
EUR/USD has managed to retrace further from its YTD low during Thursday’s Asian session, and it looks set to extend its countertrend move (assuming yields retrace lower). A bullish RSI divergence formed ahead of the recent lows, and momentum has turned higher, and it looks like EUR/USD now wants to reach for the 1.05570 – 1.0600 level, near the weekly pivot point, trend resistance and 1.0600 handle.
Beyond that, we can reassess its potential to either continue higher or form a swing high and revert to its bearish trend. Given the dominance rising yields have had on market in general in recent weeks, it really is down to how the bond market performs as to what we see here on the euro chart.
Beyond that, we can reassess its potential to either continue higher or form a swing high and revert to its bearish trend. Given the dominance rising yields have had on market in general in recent weeks, it really is down to how the bond market performs as to what we see here on the euro chart.
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.