chetanepic Posted March 9, 2017 Report Share Posted March 9, 2017 The recovery in EUR/USD loses steam as we head into mid-Europe, as investors gear up for the ECB policy decision for next direction on the EUR. Over the last hours, the major staged a solid comeback from four-day troughs of 1.0525, and looks to test yesterday’ highs reached at 1.0576, mainly driven by a profit-taking rally, as markets clear out EUR short positions after three consecutive days of declines. We indicated yesterday that ‘unless EUR can move and stay above 1.0610 by end of today, it is more likely that this pair has moved into a consolidation phase. EUR closed at 1.0540 and from here we expect this pair to trade sideways within a 1.0490/1.0590 range. For more realtime information and Commodity Tips contact Epic Research. Link to comment Share on other sites More sharing options...
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