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Feb 17 - 04:55 AM

EUR/USD - Friday's EUR/USD Action Unlocks Lots Of Downside Potential

By Jeremy Boulton  —  Feb 17 - 03:15 AM
  • Thursday saw EUR/USD break into daily Ichimoku cloud 1.0675-1.0299

  • Friday's range 1.0674-1.0630 EBS unfolds below cloud top

  • Traders are sitting on a lot of profitable long positions nL1N34W0Q1

  • Profit taking likely to fuel a deeper drop

  • Target for minor correction Sep-Feb gain is 1.0459

  • Drop might approach cloud base which is close 1.0281, 50% Sep-Feb rise

  • USD rise heightens risk for emerging market currencies nL1N34X0GS


Source:
Refinitiv IFR Research/Market Commentary

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