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Jul 11 - 12:12 AM
EUR/USD - Large Strikes Contain, US/EU Trade Dispute Simmers
First appeared on eFXplus on Jul 10 - 09:50 PM
  • +0.1% in Asia, extending Powell inspired 0.4% gain, on broad USD weakness
  • CME futures show a 50pt July Fed cut at 27.6%, up from 3.3% yesterday
  • US/EU trade conflict looks set to ramp up in coming months
  • EUR unlikely to be the vehicle of choice for USD shorts nL8N24B243
  • 1.1225-35 1.1BLN, 1.1250-60 870M, 1.1285-1.1300 1.3BLN are the close strikes
  • Despite the bounce, momentum studies conflict, 5, 10 & 21 DMAs track south
  • Bearish setup - close above 1.1283 21 DMA would undermine

eur jul 11 Click here

Source:
Refinitiv IFR Research/Market Commentary

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