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Oct 27 - 04:55 AM

EUR/USD - A EUR/USD Close Above The Cloud Would Likely See It Soar

By Martin Miller  —  Oct 27 - 02:40 AM
  • Suddenly the dollar is in trouble nL1N31R0N0

  • EUR/USD surged to register a daily close above the 1.0040 Fibo

  • 1.0040 Fibo, a 76.4% retrace of the 1.0198 to 0.9528 September (EBS) drop

  • Spot has probed the daily cloud top, currently at 1.0088

  • 14-day momentum remains positive, reinforcing the underlying bull market

  • A daily close above the cloud would likely see spot soar

  • Previous update nL1N31R0FV. EUR/USD Trader TGM2334

Source:
Refinitiv IFR Research/Market Commentary

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