Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

Bullish DXY & bearish EUR/USD: BofA Merrill Lynch

BofA Merrill Lynch notes ....

  • While yesterday's moves in foreign exchange were extreme (indeed, yesterday's EUR/USD move was the largest since March-18 2009), they failed to damage the larger US $ Index bull trend and EUR/USD bear trend. 

  • From the perspectives of trend, momentum and pattern recognition, all three say to stay the course for the US $ Index to 106 and EUR/USD to 1.0283 and potentially below. 

  • While choppy conditions could persist in the near term, as long as we remain below 1.1098/1.1127 in EUR/USD (old Jan-29 low and the 34d MA) and above 95.91 in the US $ Index (34d MA), the trend is your friend.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.