• 804 days Will The ECB Continue To Hike Rates?
  • 804 days Forbes: Aramco Remains Largest Company In The Middle East
  • 806 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,206 days Could Crypto Overtake Traditional Investment?
  • 1,211 days Americans Still Quitting Jobs At Record Pace
  • 1,213 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,216 days Is The Dollar Too Strong?
  • 1,216 days Big Tech Disappoints Investors on Earnings Calls
  • 1,217 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,219 days China Is Quietly Trying To Distance Itself From Russia
  • 1,219 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,223 days Crypto Investors Won Big In 2021
  • 1,223 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,224 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,226 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,227 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,230 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,231 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,231 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,233 days Are NFTs About To Take Over Gaming?
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…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

  1. Home
  2. Markets
  3. Other

EUR/USD Unwinding From Oversold Conditions

EUR/USD is continuing to unwind from oversold conditions, following the worst-than expected US non-farm payrolls, which triggered economic recovery concerns last week.

Near-term resistance is likely to cap at 1.2590, then 1.2650 and 1.2824 (22nd May). 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 still unwinding from overbought conditions, after already gaining over 5% in just 3 weeks. Key support can be found at 81.78 (13th Jan peak).

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment