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Nov 10 - 06:55 AM

EUR/USD - Profitable EUR/USD Bets Are Key To Current Trading

By Jeremy Boulton  —  Nov 10 - 04:35 AM
  • EUR/USD traders have established a big bet the pair rises

  • Some of these bets, perhaps many, are profitable

  • Tuesday EUR/USD was almost overbought near 1.01, pullback was likely

  • Profit taking was highly likely ahead a major event like U.S. CPI

  • Dip has ensued reaching 0.9980 EBS ahead data release

  • Profitable bets are often re-established and 0.9950 may draw buyers

  • Daily Ichimoku cloud top is close target for min tech correction Nov rise

  • Cloud top is 0.9949, 38.2% Nov rise is 0.9956

  • Developments in energy markets - gas and crude - suit EUR/USD bulls

  • GBP/USD holds above main support levels ahead CPI data nL1N3260P9

Source:
Refinitiv IFR Research/Market Commentary

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