FUNDAMENTAL CONTEXT OF THE EURO<\/h2>\n
The <\/span>euro<\/span> did little in the way of recovery after better-than-expected retail sales data for May, partly due to the print being the lowest since August 2021. Also , with the current recessionary context trapping the markets after the 2h10 US Treasury yield curve inverted, the markets remain “buffered”.<\/span><\/p>\n ECONOMIC CALENDAR EUR\/USD<\/span><\/p>\n <\/a><\/p>\n Source: <\/span>DailyFX Economic Calendar<\/span><\/p>\n EUR\/USD DAILY CHART<\/span><\/p>\n Picture made by <\/span>Warren Venketas<\/span>GI<\/span><\/p>\n EUR\/USD has now fallen to 20-year lows below the 2017 low at <\/span>1.0340<\/span> yesterday, and now looking towards the July 2002 swing high <\/span>1.0210<\/span> after the announcement. <\/span><\/p>\n As most markets are overextended at the moment, including EUR\/USD, we may see support hold at <\/span>1.0210<\/span> and potentially a short-term pullback to <\/span>1.0340<\/span>. <\/span><\/p>\n Resistance levels:<\/span><\/p>\n Support levels:<\/span><\/p>\n 1.0210 (2002 swing high)<\/span>1.0064<\/span><\/p>\n IGCS shows that there are currently retail traders <\/span>LONG<\/span> activated <\/span>EUR\/USD<\/span>with <\/span>75%<\/span> of traders currently holding long positions (as of this writing). At DailyFX we normally take a contrary view to the crowd sentiment, but due to recent changes in long and short positioning, we come to a cautious short-term disposition.<\/span><\/p>\n Contact and follow Warren on Twitter: <\/span>@WVenketas<\/span><\/a><\/p>\n element within element. Surely this is not what you wanted to do! Instead, you load your application’s JavaScript package inside the element. TECHNICAL ANALYSIS<\/h2>\n
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<\/a><\/p>\nIG CUSTOMER SENTIMENT DATA: MIXED<\/h2>\n