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Jul 16 - 03:48 AM
EUR/USD - Bulls Look To Cloud For Direction But 21DMA Shuts The Door
First appeared on eFXplus on Jul 16 - 02:00 AM
  • A messy bullish continuation pattern or a bull run that has run its course
  • A tough call as price slips into a bout of tighter consolidation
  • 21 and 55DMAs are flattening out and contain price action
  • A thickening and rising ichimoku cloud gives a directional pointer
  • However, momentum remains strongly negative: reflects Jun 28-Jul 9 slide
  • We maintain a 1.1235 bid for 1.1320 200DMA: may revise on topside breakout
  • On balance a bullish advantage but this being eroded

EUR/USD Trader

EUR/USD Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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