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Sep 15 - 07:55 AM

EUR/USD - Rallies As Risk Aversion Bites, Bigger Rise Likely

By Jeremy Boulton  —  Sep 15 - 05:53 AM
  • EUR/USD 1.1799-1.1828 EBS rallying during Europe's session

  • NA closed 1.1800 and Asia Traded 1.1799-1.1818 EBS

  • Risk aversion is building after soft China data and ahead major Fed decision

  • U.S. equity market wilting leading DJI below 100-DMA nL1N2QH0DQ

  • Yen rise leading negative shift in sentiment, traders are heavily short yen

  • Both euro and yen are viewed as safe assets nL1N2QH0F4

  • Traders have heavily sold euro since June, big rise in shorts nL1N2QG0L5

  • EUR/USD based against 55-DMA with no close below during 6 tests

  • Lots of potential for pair to rise within daily cloud 1.1808-1.1980


EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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