Asia taking a swing at the US while Europe waits for Wall Street [Video]

Carol Harmer Charmer Trading

The Euro has bounced cleanly off the 200‑day moving average, and that’s a level the market pays attention to. With the 200‑day M/A at 1.1584 and the overnight low at 1.1576, we’re sitting right on a key technical line. Whether that dip was stop‑hunting or just Asia lacking conviction, the reaction higher is worth noting.

We’ve already touched the first Fibonacci retracement at 1.1632, but with Europe only just waking up, the real test is whether this move can hold. Europe often pushes prices lower to reload at better levels, so the next few hours will tell us whether this bounce has substance or if it’s just pre‑market noise.

To me, this looks more like dollar weakness than genuine euro strength. Living in Europe, it’s hard to get excited about the euro — it hasn’t changed daily life here, and the structural issues remain. So once again, the real story is the US.

The S&P is already moving lower, and interestingly, the 10‑year yield is falling alongside it. That’s unusual. Typically, equity weakness triggers a flight to quality, but we’re not seeing that dynamic today. This feels more like Asia taking a swing at the US while Europe waits for Wall Street to set the tone. Once the US opens, we should finally see some direction. Not to be construed as Investment advice...My money, My risk.

Author

Carol Harmer

Charmer Trading

Carol Harmer has over 39 years experience of analysing and trading the world's markets and is undoubtedly one of the most respected technical trader in the world today.

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