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Aug 28 - 04:55 AM

EUR/USD - Bulls Resume Control Ahead Expected Month-End Boost

By Jeremy Boulton  —  Aug 28 - 02:35 AM
  • Solid EUR/USD bounce follows surprise post-Fed reverse to 1.1763 EBS

  • Pair trades back to 1.1880 EBS in Asia

  • EUR/USD firmly above 200-HMA which had been capping rallies

  • 200-HMA is 1.1844. Bulls have regained control, fresh bullish momentum

  • If last similar 200-HMA break is repeated EUR/USD will break 1.2000

  • Month-end flows are expected to result in more dollar selling

  • Bull target is 1.2167. 50% drop from 1.3995. Top monthly Ichimoku cloud




EUR/USD Click here

EUR/USD hourly chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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