By Jeremy Boulton — Jan 25 - 02:10 AM
EUR/USD under heavy pressure within 1.0898-35 on Jan 24 but closed bullishly
Pair closed 1.0888 and maintained recent series of rising daily lows
1.0767, 1.0782, 1.0802, 1.0820, 1.0835 - Jan 25 range 1.0881-1.0911
Although signs of profit taking evident - so far little restraint on rally
Rising 20-day Bollingers have opened more topside scope towards 1.0970
Close over big levels now possible - 1.0930 top weekly Ichimoku cloud
1.0901 is 50% May 2021-Sep 2022 drop 1.0930 - drop influenced by Fed
Source:
Refinitiv IFR Research/Market Commentary