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Sep 24 - 08:55 AM

EUR/USD - COMMENT-EUR/USD May End Year With A Twist

By Jeremy Boulton  —  Sep 24 - 06:45 AM

EUR/USD has done little this year, trading inside last year's range which was the second smallest on record.
This should heighten the magnetic influence of an Ichimoku cloud twist near 1.0800 at the end of this year.

Cloud twists often attract and are more likely to do so in listless conditions like those in evidence this year.
The period when this twist occurs is also noted for the reduction of risk when traders who are currently betting heavily on a rise are more likely to book profits.

The end of most years often sees an increase in demand for dollars, and quite often heightened concern about a shortage, increasing the probability that EUR/USD slides back toward a more neutral point.

Neutral levels for EUR/USD would be 1.0862 which is the mid-point of last year's range or the middle of the 1.05-1.10 range in which the vast bulk of trading has occurred since the start of 2023.

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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