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Oct 05 - 03:55 AM

EUR/USD - Is Approaching Major Resistance - Hedge Accordingly

By Jeremy Boulton  —  Oct 05 - 02:50 AM
  • Oct 4 saw EUR/USD rise 0.9861-0.99995 EBS (large seller at parity)

  • Oct 5 EUR/USD trades 0.9960-0.9995

  • The 55-DMA is 1.0033 and daily Ichimoku cloud is 1.0066-1.0258

  • Daily cloud base 55-DMA have capped EUR/USD rallies throughout 2022

  • They influenced five major highs: 1.1185, 1.0787, 1.0615, 1.0369, 1.0198

  • Drops from those highs reached 1.0349, 1.0359, 0.9952, 0.9864 and 0.9528

  • It's may be wise to hedge the risk of another sell-off

  • A close over daily Ichimoku cloud be game changing




Source:
Refinitiv IFR Research/Market Commentary

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