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Sep 23 - 02:55 AM

EUR/USD - May Run Deeper But Bullish Trend Is Solid

By Jeremy Boulton  —  Sep 23 - 02:10 AM
  • EUR/USD drops to 1.1675 EBS. Closed below daily cloud top and 55-DMA

  • Pair closed 1.1692. Yet to close below 1.1691 or 38.2% rise from June low

  • At this stage pair looks set to extend lower. Traders were very long EUR/USD

  • Today's range 1.1711-1.1675 unfolding lower/bearish within cloud

  • Last lower Jul 27 when pair reached 1.1640, Jul 24 1.1582

  • Daily ichimoku cloud base is 1.1567. 1.1591 is 50% rise from Jun low

  • Decline is a correction. Uptrend likely resumes once enough longs pared



EUR/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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