Home Forex News Euro Option Positioning Hinting Further Upside in Single Currency.

Euro Option Positioning Hinting Further Upside in Single Currency.

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Euro somehow facing the overbought sentiment around the latest peak. However data pointer of retail sales reached their pre-crisis level in June and July’s final PMIs confirmed that the broader recovery continued at the start of Q3. On top of it position structure in euro still keeps the bullish momentum.

TREND : WEAK BEARISH / SIDEWAYS

Time                                      :           07/08/2020

Pivot                                      :           1.1853

Technical View                     :             LONG ABOVE 1.1873

Target                                   :            1.1893, 1.1957, 1.1993

Technical View                     :             SHORT BELOW 1.1833

Target                                   :            1.1813, 1.1775, 1.1749, 1.1686

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