Euro falls further as downbeat US jobless claims further sour weak post-Fed sentiment
|The Euro extends sharp post-Fed fall on Thursday and fell to two-month low, additionally pressured by downbeat US weekly jobless claims data, after being deflated by hawkish Fed.
Massive Wednesday bearish daily candle (down 1.1% for the day, the biggest daily fall since 19 March 2020) weighs heavily, while today’s fresh bearish acceleration generated strong negative signal on break of 200DMA (1.1992) after Wednesday’s action registered close below psychological 1.20 support.
Bears also emerged from thick daily cloud (base lays at 1.1942) and pressure pivotal Fibo support at 1.1918 (61.8% of 1.1704/1.2266), close below which would further weaken the structure and add to negative near-term outlook.
Bearish daily techs maintain pressure with corrective action on oversold conditions to be anticipated.
Upticks should be ideally capped by broken 200DMA / 1.20 level and expected to provide better levels to re-enter bearish market.
Res: 1.1942; 1.1992; 1.2000; 1.2038
Sup: 1.1918; 1.1866; 1.1836; 1.1735
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.