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May 10 - 04:55 AM

EUR/USD - Lull Is A Sign Of The Times, Trend Firmly Down

By Jeremy Boulton  —  May 10 - 02:40 AM
  • Risk aversion evident throughout markets which is why EUR/USD has stalled

  • Will to initiate fresh positions is low, profit taking evident

  • Pair first stalled ahead May Fed meeting (profit taking)

  • Pre/Post Fed consolidation is occurring at a very low level (1.0470-1.0642)

  • Previous oversold conditions alleviated by the consolidation

  • Recent intensification of SNB intervention will contain EUR/USD nL2N2X10HN

  • Rising number of EM/FX interventions will weigh EUR/USD nL2N2WX0JZ

  • Drop to 1.0218 and 0.9855 targets should follow the consolidation

EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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