The EUR/USD moved off of its high of the session on Friday following a stronger than expected increase in U.S. sentiment. U.S. consumer sentiment index
The EUR/USD moved off of its high of the session on Friday following a stronger than expected increase in U.S. sentiment. U.S. consumer sentiment index rebounded 2.8 points to 90.0 October according to the final print from the University of Michigan survey, after tumbling 4.7 points to 87.2 in September.
The currency pair should continue to experience downward pressure, the the ECB continues to work toward further easing. Resistancer on the currency pair is seen near the 10-day moving average at 1.1113, while support is seen near the October lows at 1.0895. Momentum remains negative with the MACD printing in the red with a negative trajectory which foreshadows a lower exchange rate.
David Becker focuses his attention on various consulting and portfolio management activities at Fortuity LLC, where he currently provides oversight for a multimillion-dollar portfolio consisting of commodities, debt, equities, real estate, and more.
