Tiger Brokers

BUZZ-EUR/USD whipsaws, bull trap adds to downside bias

Reuters
Dec 07, 2024

* EUR (-0.3%) whipsaws on mixed U.S. payrolls, range = 1.0544-1.0630

* Bears emboldened by false break of 1.06

* Resistance now set at 1.0630. Close above would reduce bearish lean

* Dec cut odds rise, but markets stick with one cut over next two meetings

* Fed's Hammack "Fed at or near time to slow pace of rate cuts"

* Support = 1.0534 (200HMA), 1.05 (psyhological)

For more click on

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ eurusd hourly chart

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

(Justin McQueen is a Reuters market analyst. The views expressed are his own.)

((justin.mcqueen@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10