• 681 days Will The ECB Continue To Hike Rates?
  • 681 days Forbes: Aramco Remains Largest Company In The Middle East
  • 683 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,083 days Could Crypto Overtake Traditional Investment?
  • 1,088 days Americans Still Quitting Jobs At Record Pace
  • 1,090 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,093 days Is The Dollar Too Strong?
  • 1,093 days Big Tech Disappoints Investors on Earnings Calls
  • 1,094 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,095 days China Is Quietly Trying To Distance Itself From Russia
  • 1,096 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,100 days Crypto Investors Won Big In 2021
  • 1,100 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,101 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,103 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,104 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,107 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,108 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,108 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,110 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

EUR/USD Unwinds From Oversold Conditions

EUR/USD is attempting to unwind from oversold price conditions, with both momentum and net short positions at extremes.

Expect a temporary relief bounce over the coming sessions into 1.2910/12 and potentially 1.3000 (psychological level). Only a sustained move at these levels would neutralize the extreme market condition.

In terms of the big picture, key structural support remains at 1.2125/30, which would equate to EUR/USD losing half of its gains from the bull market taken from the year 2000.

Inversely, the USD Index is also unwinding from overbought conditions, after rocketing above the previous 2012 peak at 81.78.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment