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Aug 11 - 04:55 AM

EUR/USD - Must Break 55-DMA And Cloud For Bulls To Charge Again

By Jeremy Boulton  —  Aug 11 - 03:35 AM
  • EUR/USD jumped to 1.0369 in the wake of CPI data from 1.0202 low

  • Big rally revealed a strong will to buy

  • Bull camp need more inspiration and techs are most likely source

  • EUR/USD peaked ahead 55-DMA at 1.0373 and fell to 1.0276

  • Pair has rallied since the arrival of European traders reaching 1.0325

  • Break beyond 55-DMA and daily cloud 1.0420-66 should excite

  • Options provide cautionary note with vols sinking nL1N2ZN0AQ

  • Options suggest pair will not break resistance, counter traders may profit


Source:
Refinitiv IFR Research/Market Commentary

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