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Dec 07 - 04:55 AM

EUR/USD - Softer ZEW May Catch The Attention Of EUR/USD Traders

By Jeremy Boulton  —  Dec 07 - 02:35 AM
  • EUR/USD traders growing increasingly bearish will be seeking reasons to sell

  • ZEW at 10.00GMT is f/c 25.1 in Dec from 31.7

  • Current conditions 5.0 from 12.5

  • Strong German Oct IP data 2.8% mm vs 0.8% has been ignored

  • EUR/USD 1.1276-96 EBS range, opening 1.1290 in Europe and unchanged by data

  • Net EUR/USD short rising to $3.3bln equivalent thanks to long liquidation

  • Bets on drop still negligible, $20+ often reached before influencing trends

  • 20-day Bollinger bands 1.1175-1.1320 should determine further slow decline


EUR/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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