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Jul 05 - 03:48 AM
EUR/USD - 30DMA Throws EUR A Life Line As Cloud Collapses
First appeared on eFXplus on Jul 05 - 02:05 AM
  • U.S. holiday kept Thurs price subdued, Frid likely similar into the w/e
  • Looking precarious as the daily cloud top falls away sharply from today
  • Cloud drops from 1.1277 to 1.1218 then into a 1.1214 twist on Jul 11
  • 30DMA provides initial support at 1.1270, joined by 1.1268 low from Jul 3
  • Sizeable Jul 1 drop forcing loss consolidation: Fade level 1.1301 21DMA
  • Potential for a bearish continuation pattern playing out to the low 1.12s

EUR/USD Trader

EUR/USD Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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