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Feb 17 - 04:55 AM

EUR/USD - Nothing To Overly Concern EUR/USD Traders Yet

By Jeremy Boulton  —  Feb 17 - 02:47 AM
  • EUR/USD surprisingly turned south yesterday after reaching 1.2169 EBS

  • Strong European data fuelled rise. Higher U.S. yields driving the decline

  • Pair slides into lower half 20-Day Bollinger bands 1.2305, 1.2100 1.1997

  • Today's range 1.2072-1.2104 EBS. 55-DMA is 1.2152 and 100-DMA is 1.1996

  • Downward shift will naturally concern the big number of traders sitting long

  • Ranges inside 1.2000-1.2100 likely. Beware a close below daily cloud

  • Daily Ichimoku cloud base 1.1975, 2021 low 1.1952

  • Targets for deeper correction at 1.1887/1.1778, 61.8/76.4% Nov-Jan rise



EURUSD Click here

EUR/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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