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Feb 17 - 02:55 AM

EUR/USD - Ichimoku Cloud Breach Could Be Significant

By Peter Stoneham  —  Feb 17 - 02:20 AM
  • Bearish pointers again dominating the daily chart

  • Bear cross over, 10DMA below 55DMA, and a clear break below the cloud top

  • The Ichimoku cloud is thick and could slow progress

  • Long upper shadow on the weekly highlights demand fade

  • Initial bear target at 1.0536, a 38.2% Fibo off 0.9730-1.1034 gain

  • Drop to a 1.0630 low negates our consolidation phase view

  • We now lean bearish but will remain side lined for now

    for more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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