EUR/USD's Pullback May Extend Further, Charts Show -- Market Talk

Dow Jones01-03

0621 GMT - EUR/USD's pullback from its late-December high of 1.1139 may extend further, based on technical charts, says Quek Ser Leang, markets strategist of UOB's Global Economics & Markets Research, in a research report. Despite EUR/USD reaching 1.1139, there's no clear increase in upward momentum and the pullback from 1.1139 was accompanied by bearish divergence on daily moving average convergence divergence indicator, the strategist says. Downward momentum is also starting to build, which suggests 1.1139 may be a peak for the next 1-2 months, the strategist says. The rising trendline that connects lows of November and December and the 55-day exponential moving average, both around 1.0860, should offer strong support, the strategist adds. EUR/USD is up 0.2% at 1.0958. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

January 03, 2024 01:21 ET (06:21 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2400843102?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-01-03 14:21","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2400843102","market":"hk","top_or_hot":-1,"title":"EUR/USD's Pullback May Extend Further, Charts Show -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0621 GMT - EUR/USD's pullback from its late-December high of 1.1139 may extend further, based on technical charts, says Quek Ser Leang, markets strategist of UOB's Global Economics &amp; Markets Research, in a research report. Despite EUR/USD reaching 1.1139, there's no clear increase in upward momentum and the pullback from 1.1139 was accompanied by bearish divergence on daily moving average convergence divergence indicator, the strategist says. Downward momentum is also starting to build, which suggests 1.1139 may be a peak for the next 1-2 months, the strategist says. The rising trendline that connects lows of November and December and the 55-day exponential moving average, both around 1.0860, should offer strong support, the strategist adds. EUR/USD is up 0.2% at 1.0958. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 03, 2024 01:21 ET (06:21 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>EUR/USD's Pullback May Extend Further, Charts Show -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEUR/USD's Pullback May Extend Further, Charts Show -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-01-03 14:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>0621 GMT - EUR/USD's pullback from its late-December high of 1.1139 may extend further, based on technical charts, says Quek Ser Leang, markets strategist of UOB's Global Economics & Markets Research,...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"USD","symbol_name":"ProShares Ultra Semiconductors","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2400843102","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2400843102","pubTimestamp":1704262860,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0621 GMT - EUR/USD's pullback from its late-December high of 1.1139 may extend further, based on technical charts, says Quek Ser Leang, markets strategist of UOB's Global Economics & Markets Research, in a research report. Despite EUR/USD reaching 1.1139, there's no clear increase in upward momentum and the pullback from 1.1139 was accompanied by bearish divergence on daily moving average convergence divergence indicator, the strategist says. Downward momentum is also starting to build, which suggests 1.1139 may be a peak for the next 1-2 months, the strategist says. The rising trendline that connects lows of November and December and the 55-day exponential moving average, both around 1.0860, should offer strong support, the strategist adds. EUR/USD is up 0.2% at 1.0958. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"USD":"ProShares Ultra Semiconductors"},"translate_title":"图表显示，欧元/美元的回调可能会进一步扩大——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EURUSD.FOREX":1,"USD":1},"content_text":"0621 GMT - EUR/USD's pullback from its late-December high of 1.1139 may extend further, based on technical charts, says Quek Ser Leang, markets strategist of UOB's Global Economics & Markets Research, in a research report. Despite EUR/USD reaching 1.1139, there's no clear increase in upward momentum and the pullback from 1.1139 was accompanied by bearish divergence on daily moving average convergence divergence indicator, the strategist says. Downward momentum is also starting to build, which suggests 1.1139 may be a peak for the next 1-2 months, the strategist says. The rising trendline that connects lows of November and December and the 55-day exponential moving average, both around 1.0860, should offer strong support, the strategist adds. EUR/USD is up 0.2% at 1.0958. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 03, 2024 01:21 ET (06:21 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2400843102"}