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Aug 06 - 03:48 AM
EUR/USD - Saw Biggest Daily Rise Since Jan, But Cloud An Obstacle
First appeared on eFXplus on Aug 06 - 02:15 AM
  • EUR/USD saw biggest daily gain since Jan on Mon, according to EBS prices
  • Tuesday breaks 1.1220 Fibo, a 50% of 1.1412 to 1.1027 (June to August) drop
  • But there is a big risk it will fail to see a daily close above 1.1220 Fibo
  • Daily cloud, which now spans 1.1259-92 region, is also an obstacle to bulls
  • Outlook mixed as momentum positive, but huge technical supply above
  • Left long tail on Thu's candle, highlighting downside rejection

EUR/USD Trader:

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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