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Aug 16 - 04:55 AM

EUR/USD - On The Cusp Of Another Bearish Development

By Jeremy Boulton  —  Aug 16 - 03:00 AM
  • EUR/USD is set to fall below the daily Ichimoku cloud

  • Cloud set to rise to 1.0932-1.0977 on Thursday, base reaching 1.0956 Aug 22

  • After Mon's break below - 55/100-DMAs have capped Wed's range - bearish

  • 55-DMA 1.0950, 100-DMA 1.0932 - Wed's range 1.0899-1.0927 EBS

  • There has been a series of four lower daily highs

  • The 200-DMA at 1.0786 is vital for the many betting pair rises nL1N39W0LG

  • Resilient UK inflation is fuel for carry trades, weigh EUR/GBP nL1N39X0FW

Source:
Refinitiv IFR Research/Market Commentary

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