EUR/USD: No reason to continue the uptrend
|EUR/USD has no reason to continue the uptrend as almost everything is pointing lower, Yohay Elam, an analyst at FXStreet, reports.
Key quotes
“The disease is infecting relations within the bloc. The lack of unity in the European Union is weighing on the common currency.
“In the US, there are no reasons to be cheerful. However, after the end-of-quarter storm passed, the greenback has room to gain ground on safe-haven flows while stocks suffer.”
“Economists expect ADP’s labor market report to show a loss of 150,000 private sector positions. The publication is set to rock markets.”
“The ISM Manufacturing Purchasing Managers’ Index will provide a snapshot of the sector. Investors brace for a relatively moderate fall from 50.1 to 45 points.”
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.