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EUR/USD to break higher?

Sep 19, 2019 (08:18)

by John Knobel

EUR/USD retracing higher on the back of trouble in US overnight bank lending markets;
US FED interest rate cut is already priced into the markets;
More USD volatility seen ahead as the major US investment firms fail to meet funding demands;

EUR/USD current price 1.1057 ; potential for upside break-out; current price is below its multi-month downtrend-line (bearish); a break above the 1.1112 resistance opens up a further price retracement towards 1.1112; 1.1169 and 1.1226 (see chart);

Source: FXGM / Bloomberg

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