Greenback Extends Downside Ahead of US Presidential Debate

August, as you can see, toppled supply from 1.1857/1.1352 and extended space north of long-term trendline resistance (1.6038), arguing additional upside may be on the horizon, targeting trendline resistance (prior support – 1.1641). Trading in September, however, is down more than 1.6 percent, on track to snap a four-month winning streak and retest broken trendline resistance. The primary downtrend (since July 2008) remains intact until 1.2555 is engulfed (Feb 1 high [2018]). Leaving behind support at 1.1553, EUR/USD established a bottom Monday, with strong follow-through buying emerging on Tuesday. The currency … (full story)

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