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Dec 07 - 03:55 AM

EUR/USD - Settles Within Hourly Cloud, Watch For A Breakout

By Jeremy Boulton  —  Dec 07 - 02:40 AM
  • EUR/USD trading within hourly Ichimoku cloud for last 15 hours

  • Cloud 1.2109-49 and 100-HMA is 1.2105

  • Minor consolidation within uptrend and break more likely to be higher

  • Strong German Industrial output supports; 3.2% in Oct vs a 1.6% f/c

  • EUR/USD longs are growing but still not big enough to stop the rally

  • Specs likely to crowd ahead 1.2000 to buy dips, 10-DMA now 1.2019

  • Friday and 2020 peak @ 1.2177. Apr 24/25 2018 highs 1.2245/38 next targets



German industrial output Click here

EUR/USD longs Click here

EUR/USD hourly Click here

Source:
Refinitiv IFR Research/Market Commentary

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