{"id":103385,"date":"2020-08-17T13:08:55","date_gmt":"2020-08-17T12:08:55","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=103385"},"modified":"2020-08-17T20:34:03","modified_gmt":"2020-08-17T19:34:03","slug":"103915-eur-usd-price-outlook-potential-short-term-bearish-reversal-in-play","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103915-eur-usd-price-outlook-potential-short-term-bearish-reversal-in-play\/","title":{"rendered":"EUR\/USD Price Outlook: Potential Short-Term Bearish Reversal in Play"},"content":{"rendered":"<ul>\n<li>EUR\/USD technical pattern points to losing bullish momentum at resistance level 1.1880<\/li>\n<li>The shift in risk sentiment tone among foreign investors is the only market theme that fuels the upside<\/li>\n<\/ul>\n<p>The recent rally that the EUR to USD pair has experienced is at risk of reversal amid a lack of clear conviction among the bulls to bid the pair past the 1.1870 \u2013 1.1880 resistance band. The EUR\/USD can now enter a consolidation phase as sellers continue to lurk near the Monday\u2019s opening price at 1.1838. If the EUR\/USD sellers can manage to defend last week\u2019s high of 1.1916, we can be in the stage of developing a short-term topping pattern.<\/p>\n<p>Elsewhere, the coronavirus second wave outbreak continues to keep the market on its toes. The only improvement in market sentiment comes from the global economy which is expected to continue to recover but at a moderate pace.<\/p>\n<p>Meanwhile, smart money is keeping an eye on the US political debacle and the fresh round of stimulus measures that might or might not come fruitful.<\/p>\n<p>On the economic data front, investors are bracing for a series of key risk events that have the potential to give more clarity to the price action. On Wednesday, the FOMC minutes will reveal more info on its forward guidance policy adoption. The FOMC is followed by the ECB\u2019s monetary policy accounts on Thursday and the preliminary PMIs data for the US and EU\u2019s economies.<\/p>\n<p>Another market theme worthy of consideration is the resumption of the EU-UK post-Brexit trade negotiations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EUR\/USD technical pattern points to losing bullish momentum at resistance level 1.1880 The shift in risk sentiment tone among foreign investors is the only market theme that fuels the upside The recent rally that the EUR to USD pair has experienced is at risk of reversal amid a lack of clear conviction among the bulls [&hellip;]<\/p>\n","protected":false},"author":163946612,"featured_media":3883,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[1386,2139,1413,1395,2412,1453,1398],"class_list":{"0":"post-103385","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-usd","9":"tag-brexit","10":"tag-coronavirus","11":"tag-ecb","12":"tag-eur","13":"tag-eur-usd","14":"tag-fomc","15":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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