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Jun 01 - 12:12 PM

EUR/USD - Last Time EUR/USD Did This Pair Soared 14 Percent

By Jeremy Boulton  —  Jun 01 - 02:50 AM
  • On May 29 EUR/USD closed over base weekly Ichimoku cloud at 1.1103

  • First close above base under normal conditions since downtrend began in 2018

  • Last similar break in May 2017 saw EUR/USD rise over 14% in 37 weeks

  • A close over weekly cloud @ 1.1225 and 100-WMA at 1.1221 may confirm repeat

  • At this stage picking tops with tops above cloud looks a cheap bet

  • Considering traders long pace of gains is a very bullish sign IMM/FX

  • Specs will likely prefer to buy dips ahead daily cloud top @1.1065

  • Close back below 200-DMA @ 1.1012 needed to end this bullish phase


EUR/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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