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Thomson Reuters
Mar 01 - 05:00 AM
EUR/USD - Breaks 30-DMA Support After "bull Trap" Above Cloud
First appeared on eFXplus on Mar 01 - 03:00 AM
  • EUR/USD's was attracted by Thursday's "cloud twist" circa 1.1413
  • Despite this it failed to sustain a break above the cloud = "bull trap"
  • Thursday's "bull trap" weighs, that could see spot drift lower
  • Propped by 30-DMA (now at 1.1363) on Thursday nL1N20N087, gives way Friday
  • A break back below the tenkan line, now at 1.1348, will weaken further
  • Cloud above thickening once again, it now spans 1.1410-1.1418

EUR/USD Trader:

Daily Cloud Chart: Click here

Source:
Thomson Reuters IFR Markets

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