It has been a rough couple of days for equity investors, assharply over this period. We can safely assume that the main catalyst for these turn of events was the rocketing US yields, along with fears of a global economic slowdown.
The EURUSD pair
surged on Thursday after a combination of a somewhat hawkish ECB decision along
with a weakening of US CPI. The pair was seen trading 0.50% stronger during the
US session, hovering slightly below the important 1.17 mark.
It is notable that we have a valid kumo break out signal following by the confirmation of the chikou span line which is below the cloud and below the price.
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