fxstreet.com 02 Feb, 2021 11:30 am

Critical triple-bottom looks vulnerable after the dead-cat bounce

Critical triple-bottom looks vulnerable after the dead-cat bounce
Another day, another EUR/USD dead-cat bounce – but this one may lead to a loss of critical support. The euro is unable to take advantage of the dollar

Another reason to be cheerful is America's rapid vaccination campaign – which has picked up speed in recent days – and compounds a decline in COVID-19 cases and especially hospitalizations.Another delay in Europe's vaccination campaign and the common currency could be knocked lower.Investors are selling the safe-haven dollar amid fresh optimism on several fronts.Concerns about potential downfalls of hedge funds caused sell-offs last week and boosted the safe-haven dollar.

Another day, another EUR/USD dead-cat bounce – but this one may lead to a loss of critical support.Critical support awaits at 1.

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