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Thomson Reuters
Jun 14 - 06:12 AM
EUR/USD - Bears Take Some Profits So They Will Pick Tops
First appeared on eFXplus on Jun 14 - 04:55 AM
  • EUR/USD well supported in the wake of a hawkish Fed hike
  • Evidence that traders had sold short for the event, profit-taking after
  • Short-covering, no squeeze (that's a move fuelled by distressed positions)
  • Profitable trades are likely to be repeated so expect a lot of top-picking
  • 1.1855 is 38.2% retrace Apr-May drop 1.2414-1.1510 (target min correction)
  • CB's actively intervening to slow USD/EM rises will sell EUR/USD strength

EUR/USD daily Click here

Source:
Thomson Reuters IFR Markets

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