BUZZ-COMMENT-FX traders should beware EUR/USD usually climbs in June

Reuters06-04

June 4 (Reuters) - FX traders should note that EUR/USD usually closes in positive territory in June and this will likely be the case again in 2024.

A study of the EUR/USD's performance for each June since 2000 shows it has risen in 15 of the last 24 years, highlighting a seemingly inbuilt structural strength. Seasonality should not be considered in isolation, but it's a useful tool combined with other factors.

The dollar languished at its lowest since March against the euro on Tuesday as signs of a softening U.S. economy boosted the case for earlier Federal Reserve interest rate cuts. This is underpinning EUR/USD.

As EUR/USD continues to trade above the daily cloud, which currently spans the 1.0712-1.0791 region, the overall bias remains on the upside. The scope is growing for much bigger gains to eventually break above the 1.0934 Fibo, a 61.8% retrace of the 1.1139 to 1.0602 $(EBS)$ drop.

For more click on

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(Martin Miller is a Reuters market analyst. The views expressed are his own)

((martin.miller@thomsonreuters.com))

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A study of the EUR/USD's performance for each ...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">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":"FT_SY_EUR","symbol_name":"欧元","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2440403691","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2440403691","pubTimestamp":1717487287,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"June 4  - FX traders should note that EUR/USD usually closes in positive territory in June and this will likely be the case again in 2024.    A study of the EUR/USD's performance for each June since 2000 shows it has risen in 15 of the last 24 years, highlighting a seemingly inbuilt structural strength. Seasonality should not be considered in isolation, but it's a useful tool combined with other factors.   The dollar languished at its lowest since March against the euro on Tuesday as signs of a softening U.S. economy boosted the case for earlier Federal Reserve interest rate cuts. This is underpinning EUR/USD.   As EUR/USD continues to trade above the daily cloud, which currently spans the 1.0712-1.0791 region, the overall bias remains on the upside. The scope is growing for much bigger gains to eventually break above the 1.0934 Fibo, a 61.8% retrace of the 1.1139 to 1.0602  drop.   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Seasonality should not be considered in isolation, but it's a useful tool combined with other factors.   The dollar languished at its lowest since March against the euro on Tuesday as signs of a softening U.S. economy boosted the case for earlier Federal Reserve interest rate cuts. This is underpinning EUR/USD.   As EUR/USD continues to trade above the daily cloud, which currently spans the 1.0712-1.0791 region, the overall bias remains on the upside. The scope is growing for much bigger gains to eventually break above the 1.0934 Fibo, a 61.8% retrace of the 1.1139 to 1.0602 $(EBS)$ drop.   For more click on       <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Daily Chart:        ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>(Martin Miller is a Reuters market analyst. 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