Last week, price tested 2018 low. Where price quickly surged after reaching this level. Now price is trade lower and lower as and declines. In addition, EURUSD 0.03%has been correlating with the stock market recently due to risk-aversion. For now, the two prices are correlating, indicating that there are still uncertainty in the market.
Exhibit 1: Price Correlation Between EURUSD, GBPUSD, S&P500
Exhibit 2: IG Client EURUSD Positioning
Exhibit 3: XM Client EURUSD Positioning