Forex technical analysis: EURUSD off to a slow but lower opening

Discussion in 'Technical Analysis' started by ForexLive, Jun 5, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    Monday hangover... As the GBPUSD heads lower on the focus heading back to the BREXIT polls, the EURUSD has moved down in some sympathy with it's neighbor. However, the EURGBP is gapping higher as well. So be cautious as traders get their feet under them after the EURUSD sharp rise after the weak US employment report on Friday. Remember FOMC Chair Yellen will be speaking during the NY session (12:30 PM ET/1630 GMT). The market will be all ears. My guess is she talks about the risks of forcing things (with Brexit and the weaker employment report) but tries to keep doors open at the same time.

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