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Thomson Reuters
Jun 13 - 08:36 AM
EUR/USD - Up Despite Data Miss A Warning Sign For Those Short
First appeared on eFXplus on Jun 13 - 06:15 AM
  • EUR/USD lower through stops below 21-DMA and 200-HMA at Europe's open
  • Pair reached 1.1731 then drifts higher despite soft EZ data
  • EZ IP @ 10GMT fell 0.9% vs -0.5% f/c. YY to 1.7% from 3% (f/c 2.8%)
  • EUR/USD rises back above 21-DMA 1.1752 and 200-HMA 1.1749 after data
  • Price action maybe an omen of what to expect after the Fed hikes
  • Traders clearly short EUR/USD for the event. Profit taking to support

EURUSD hourly Click here

Source:
Thomson Reuters IFR Markets

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