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Oct 25 - 08:55 PM

EUR/USD - Opens Lower As Market Expects ECB To Remain Dovish

By John Noonan  —  Oct 25 - 07:25 PM
  • EUR/USD opens 0.30% lower after completing a bearish outside day

  • Market expects no change from ECB Thursday and a relatively dovish message

  • Inability of EUR/USD to break resistance at 1.1670 discouraged bulls

  • EUR/USD is trading below the 10-day MA at 1.1617 suggesting top is in place

  • The 21-day MA is at 1.1600 and close below opens the door for move lower

  • Minor support is at the Oct 18 low at 1.1572

  • A move back above 1.1620 would ease downward pressure for now

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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