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Refinitiv
Apr 17 - 06:55 AM

EUR/USD - In May EUR/USD May Be Drawn Towards Bottom Of Is Range

By Jeremy Boulton  —  Apr 17 - 04:50 AM
  • Daily Ichimoku cloud twists around 1.0775 at start of May - twists attract

  • Traders are heavily long - many profitably nL1N36K0D6

  • Vols sinking, rally losing momentum this year - good time to bank profits

  • Recent development of an overbought situation is added cause for caution

  • 1.0796 is 50% March-April gains - neutral ground

  • Set back towards daily cloud may lay foundation for bigger rise

  • Cloud will thicken and rise towards end May - supporting next up-leg

Source:
Refinitiv IFR Research/Market Commentary

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