Euro / U.S. DollarShort
EURUSD: Too early to call a bottom amid bearish signals
Some traders suggest a potential low in EURUSD just because the price is oversold, but without fundamental support and persistent bearish technical signals, it's premature to assume a bottom.
For a sustained upward move, the price would likely need to establish itself above 1.05 and maintain levels there before a meaningful push higher.
In the short term, the technical outlook remains bearish between 1.0416 and 1.0462. A reversal from this range could see the price drop to 1.0345, followed by 1.0292.
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
For a sustained upward move, the price would likely need to establish itself above 1.05 and maintain levels there before a meaningful push higher.
In the short term, the technical outlook remains bearish between 1.0416 and 1.0462. A reversal from this range could see the price drop to 1.0345, followed by 1.0292.
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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