TECHNICALS:
Daily: Strong resistance at 1.1150 keeps holding, our trade acts as expected so far (pullback to 1.10 before reversal). We're holding the trade.
1-Hour: Short-term double top with bearish divergence, points to the downside.
FLOWS: EUR bullish and USD bearish. Possible headwind for the trade.
RISK SENTIMENT: Positive to mixed after Trump's reaction to China came in quite weak. Lockdowns continue to ease, although any signs of economic slowdown may increase risk-off flows.
ECONOMIC SURPRISES: Positive for EUR, USD awaiting PMI numbers today.
CORRELATIONS: Slightly bearish.
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Daily: Strong resistance at 1.1150 keeps holding, our trade acts as expected so far (pullback to 1.10 before reversal). We're holding the trade.
1-Hour: Short-term double top with bearish divergence, points to the downside.
FLOWS: EUR bullish and USD bearish. Possible headwind for the trade.
RISK SENTIMENT: Positive to mixed after Trump's reaction to China came in quite weak. Lockdowns continue to ease, although any signs of economic slowdown may increase risk-off flows.
ECONOMIC SURPRISES: Positive for EUR, USD awaiting PMI numbers today.
CORRELATIONS: Slightly bearish.
Please hit the "LIKE" button if you enjoyed our analysis. Thanks!
