EUR/USD: Technical moment for potential breakout – Societe Generale
Source Fxstreet
Societe Generale's report analyzes the EUR/USD pair, noting a significant technical moment as it approaches the 200-day moving average. A close above this level could prompt adjustments in positions and hedging structures. The report also references the historical context of similar price movements in 2018.
EUR/USD approaches critical technical level
"It is a seminal technical moment for EUR/USD: the 3-sigma rally puts the 200m ma (1.1950) in play for the first time since early 2018."
"A close above would confront the spectrum of real money, CTA accounts and corporate Treasurers whether to adjust positions and hedging structures for an overshoot."
"The euro failed at the same technical juncture in 2018 and a 15% retracement subsequently followed from 1.2555 to 1.0635."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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