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Jul 28 - 04:55 AM

EUR/USD - Longs Now Look Poor Value, Wait For A Dip

By Jeremy Boulton  —  Jul 28 - 02:50 AM
  • EUR/USD has rocketed 5.3% in 18 days. Longs now look poor value

  • Significant levels may influence a top between 1.18-19

  • 1.1823 is a 61.8% retracement of the drop from 1.2556 in 2018

  • 100-MMA is 1.1883. There has not been a close over 100-MMA since 2014

  • A correction of expensive longs would be healthy for the uptrend

  • Daily Ichimoku cloud will help to define levels worth buying

  • Currently cloud top near 1.12 but rises to 1.1530 end-Aug

  • 1.1547 is target for minimum tech correction of Jun-Jul rise

  • Watch CNH closely nL2N2EZ08H





EUR/USD Click here

EUR/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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