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Nov 09 - 04:55 AM

EUR/USD - This EUR/USD Rally Has Potential

By Jeremy Boulton  —  Nov 09 - 02:45 AM
  • EUR/USD has convincingly broken above prior resistance levels

  • 55-DMA at 0.9892 and daily Ichimoku cloud 0.9813-0.9948 now support

  • Tuesday's close over 100-DMA at 1.0038 will add to bullish expectations

  • Nov 9 pair exceeded 1.0093 Oct high reaching 1.0096 before dip to 1.0056

  • Sep peak at 1.0198, and Aug high at 1.0369 are next targets

  • Bets already made on pair rising are one of the main drags

  • Thursday U.S. CPI data is the biggest risk to this emerging rally

  • Target for min tech correction of drop influenced by Fed is 1.0574




Source:
Refinitiv IFR Research/Market Commentary

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