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Oct 26 - 07:55 AM

EUR/USD - Rally Falters At Familiar Levels

By Jeremy Boulton  —  Oct 26 - 05:50 AM
  • Wednesday EUR/USD rises to 1.0048 EBS ahead Thursday's ECB meeting

  • Pair rising into daily Ichimoku cloud for first time since June

  • Daily cloud 1.0005-89 has capped every recovery since Fed hiked in March

  • Deep drop followed similar probe into cloud in June

  • EUR/USD is overbought trading over 1.0005 peak 20-day Bollinger bands

  • FX moves have roots in intervention - that's a problem

  • Interest rate markets do not support the notion of a Fed pause

  • Surging gas prices set to weigh




Source:
Refinitiv IFR Research/Market Commentary

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