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Sep 22 - 04:55 AM

EUR/USD - 1.1450 Is The Target Should Fed Trigger Downside Break

By Jeremy Boulton  —  Sep 22 - 02:44 AM
  • EUR/USD has traded ranges mainly within 1.17-1.20 since June Fed

  • Aug's brief drop to 1.1664 followed by swift bounce to 1.1909

  • Should a change in Fed policy lead to break lower 1.1450 is possible

  • Drop into a lower range more likely than a sustained decline

  • Very low option vol suggests little chance big move in any direction

  • EUR/USD has traded a series of steadily declining ranges in 2021

  • Good chance lower range evolves close 1.15-18 and holds rest 2021

  • Monthly Ichimoku cloud twists close to 1.1450 Oct/Nov, twists attract

  • Close in relation to 100-MMA 1.1746 telling for l-term direction

  • 100-MMA which capped 2018's rally has underpinned EUR/USD since May


EUR/USD monthly Click here

Source:
Refinitiv IFR Research/Market Commentary

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