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Mar 03 - 03:55 AM

EUR/USD - A Bad Day Ended Brightly For EUR/USD Traders

By Jeremy Boulton  —  Mar 03 - 02:18 AM
  • Yesterday breaks below key techs concerned EUR/USD traders sitting long

  • EUR/USD reached 1.1952 EBS but then rallied to close 1.2091

  • Pair traded below 100-DMA 1.2031 and daily cloud but closed over both

  • Today's range 1.2079-93 has unfolded above daily cloud base at 1.2074

  • Consolidation that began Dec 2020 continues

  • High probability that a cloud twist on Mar 12 at 1.2107-15 attracts

  • Consolidation is unfolding at the upper-end of a big rise; bullish




EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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