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Nov 11 - 03:55 AM

EUR/USD - Rapidly Approaching Likely Limits For Its Correction

By Jeremy Boulton  —  Nov 11 - 02:15 AM
  • Target for minimum tech correction 2022 EUR/USD drop is 1.0279

  • Target for min tech correction drop for Fed inspired trend is 1.0574

  • 200-DMA is 1.0439, top 20-week Bollingers is 1.0420

  • EUR/USD currently stretched above 20-day Bollingers 1.0200 - overbought

  • No change in expected U.S. terminal rate 5%, no change in rate diffs

  • One-year was forward swap was circa 260 pips before CPI and still is

  • Traders long EUR/USD, tech trend firmly down, U.S. data boosted gas/oil

  • Sustainable gains above correction targets are not likely



Source:
Refinitiv IFR Research/Market Commentary

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