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Jan 23 - 03:48 AM

EUR/USD - A Rising Cloud May Push EUR/USD Up Or Become Resistance

By Jeremy Boulton  —  Jan 23 - 02:25 AM
  • EUR/USD has returned to the middle of its current range (rough 1.09-1.12)

  • Pair met support @ 100-DMA and daily cloud base. Both were 1.1071

  • Cloud is rising base today 1.1077 and rising to 1.1091 Jan 27-31

  • Strong chance range rises with cloud 1.1070-1.1100, perhaps to 1.1090-1.1120

  • If support fails daily Ichimoku cloud will then define resistance

  • A period where EUR/USD trades within lower half 1.09-1.12 may result















EURUSD daily: Click here

Source:
Refinitiv IFR Research/Market Commentary

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