25 Aug 2015
EUR/USD threatens fresh intraday lows as risk improves
FXStreet (Bali) - EUR/USD is trading under pressure as a recovery of sentiment takes place ahead of the Shanghai composite open, which will determine whether or not further risk-on legs may develop.
Shanghai has last word
EUR/USD is presently trading circa 1.1555, off its Asian session highs at 1.16, with the risk of further declines quite realistic now, should Chinese equities track the improved sentiment from early Asian indices.
Wild moves to continue?
It is important to note, however, as Valeria Bednarik, Chief Analyst at FXStreet, notes, that "the wild moves are far from over, and with the Asian and Chinese opening, the market could run again into panic, making of the technical indicators, worthless intraday tools."
Shanghai has last word
EUR/USD is presently trading circa 1.1555, off its Asian session highs at 1.16, with the risk of further declines quite realistic now, should Chinese equities track the improved sentiment from early Asian indices.
Wild moves to continue?
It is important to note, however, as Valeria Bednarik, Chief Analyst at FXStreet, notes, that "the wild moves are far from over, and with the Asian and Chinese opening, the market could run again into panic, making of the technical indicators, worthless intraday tools."