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Nov 07 - 03:55 AM

EUR/USD's Biggest Rise Since 2016 Ends Above Cloud: Bullish

By Martin Miller  —  Nov 07 - 02:05 AM
  • EUR/USD saw a big reversal last week, putting the focus back on the upside

  • On Friday it saw a 210 pip rise, the biggest daily rise since June 2016

  • Market saw a daily close back above the thick Ichimoku cloud, a bullish sign

  • The daily cloud, currently spans the wide 0.9807-0.9949 range

  • Fourteen-day momentum is positive, another sign that there will be big gains

  • Await clearer signals. Previous update nL1N3200ID. Trader TGM2334

Source:
Refinitiv IFR Research/Market Commentary

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