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Dec 05 - 05:55 AM

EUR/USD - This EUR/USD Chart Formation Has A Big Role To Play

By Jeremy Boulton  —  Dec 05 - 03:35 AM
  • Weekly Ichimoku cloud 1.0762-1.1162 is falling and thickening

  • Potentially a strong resistance zone set to weigh EUR/USD

  • Cloud base drops to 1.0606 end-Dec, then falls to 1.0480 end-Jan

  • Alternately a cloud break could spur a major rally next year

  • 1200 point rise followed last weekly cloud break in Jun 2020

  • It is wise to expect EUR/USD rally to pause nL1N32V0D3


Source:
Refinitiv IFR Research/Market Commentary

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