Home Forex News The US D Gave Up Brief Early Gains on Monday

The US D Gave Up Brief Early Gains on Monday

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The U.S. dollar gave up brief early gains on Monday as mounting concerns about a slowing U.S. economic recovery from the coronavirus pandemic hobbled the currency after a brief rebound late last week. The euro traded almost unchanged at $1.1768 (EUR=), coming off a low of $1.1741 touched earlier in the session, though it is still more than a cent below Friday’s two-year high of $1.1908.

The common currency hit a speed bump on some technical signs of being over-bought in the near-term, and with speculators’ long positions hitting a record level.

TREND : WEAK BEARISH

Time                                      :           03/08/2020

Pivot                                      :           1.1771

Technical View                     :             SHORT BELOW 1.1751

Target                                   :            1.1731, 1.1708, 1.1681

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