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Oct 21 - 03:55 AM

EUR/USD - Breaks Outside Of The Cloud For The 1St Time Since Sept

By Martin Miller  —  Oct 21 - 02:30 AM
  • EUR/USD has breached the top of the thick cloud, that spans 1.1635-1.1849

  • The key 1.1861 Fibo, 61.8% of the 1.2014 to 1.1613 drop, is under threat

  • The market has not traded outside the daily cloud since Sept 22

  • A daily close above the cloud would likely lead to a surge in tech buying

  • However, a failure to perform a close above could see a market relapse

  • Spot is on a knife-edge. EUR/USD Trader TGM2334. Previous nL1N2HB03Q

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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