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Jul 23 - 05:55 AM

EUR/USD - Hard To Envisage A More Bullish EUR/USD Situation

By Jeremy Boulton  —  Jul 23 - 04:25 AM
  • A rapid EUR/USD rise through key option levels (1.1500, 1.1550, 1.1600)

  • Number of EUR/USD longs is not restraining the rise

  • Lack of option cover is helping to fuel the rally nL2N2EU083

  • Pair is consolidating the rally close to the high (bullish)

  • A thick monthly ichimoku cloud is point to mull a slowdown, perhaps top

  • Cloud begins 1.1740 and ends 1.1267. 100-MMA is 1.1883

  • EUR strength puts pressure on trade weighed value of yuan nL2N2EU07L


EUR/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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