Tuesday’s move lower was attributed to the rise in U.S. yields, therefore, with EURUSD opening at the lows yesterday and yields ticking higher once again, one could be forgiven for thinking that the pair would take a look under 1.1700 .
Not so! The rally seen yesterday then was another example of the sustainability of the current move.
I have noted before that pullbacks in the region of 200 points or so are all part of the process and should be expected, especially in these illiquid summer months, and therefore should be seen as a buying opportunity.
We walk in this morning with EURUSD on a 1.1800 handle and while price action may still be a little more two way over the next couple of weeks, the long EURUSD view, while leaving room to add is still firmly entrenched in our view.
Not so! The rally seen yesterday then was another example of the sustainability of the current move.
I have noted before that pullbacks in the region of 200 points or so are all part of the process and should be expected, especially in these illiquid summer months, and therefore should be seen as a buying opportunity.
We walk in this morning with EURUSD on a 1.1800 handle and while price action may still be a little more two way over the next couple of weeks, the long EURUSD view, while leaving room to add is still firmly entrenched in our view.
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