Friday, October 16, 2026

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EUR/USD bears to struggle, short covers dominate for now

Lack follow through from Fri. & tighter DE-US spreads see short covers lift European QE trades continue to unwind across asset markets 100 & 10-Day moving averages aid the bounce Break of latter sees decent squeeze, sub-…

By Jay L. Zagorsky
1 min read
EconoTimes — Reading the Times. Understanding the Future.

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  • Lack follow through from Fri. & tighter DE-US spreads see short covers lift

  • European QE trades continue to unwind across asset markets

  • 100 & 10-Day moving averages aid the bounce

  • Break of latter sees decent squeeze, sub-1.1115 eases short-term bull pressure

  • Offers into 1.12005/10 more 1.1225/30  followed by Friday's high

  • Reduction/reversal of foreign inflow to Europe lessens hedge sales of EUR

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By FxWirePro Team