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Thomson Reuters
Oct 24 - 06:12 AM
EUR/USD - Shock PMI Knocks EUR/USD But Seems Traders Already Short
First appeared on eFXplus on Oct 24 - 03:45 AM
  • German PMIs shock on the downside, weakest in more than 3-years nL9N1T2013
  • EUR/USD drops 1.1460-25 (EBS) in reaction breaking prior double low @ 1.1433
  • Second bout of selling sees 1.1422 and push even lower is still very likely
  • Yet, where stops should have been hit, pair is meeting buyers
  • Seems a sell rumour buy fact reaction is unfolding with specs underpinning
  • Data firmly says down, reaction says the drop will unfold slowly

Source:
Thomson Reuters IFR Markets

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