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Dollar and euro in balance as risk-off trade intensifies

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 9, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    On Monday, global markets slipped again in outright risk‐off modus even as Chinese markets were closed. On the currency market, the yen obviously remained the preferred safe haven currency. USD/JPY dropped below the key 115.98 support and closed the session at 115.85 (from 116.87 on Friday). Initially, the dollar rather than the euro was the preferred second best. EUR/USD dropped temporary below 1.11 but rebounded later as the US equity sell‐off accelerated. EUR/USD closed the session at

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