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Sep 12 - 06:55 AM

EUR/USD - FX Traders Should Consider The Origins Of This EUR/USD Rally

By Jeremy Boulton  —  Sep 12 - 04:40 AM
  • Sep 12 EUR/USD leaps 1.0060-1.0198 EBS

  • Rose from around 1.0085 to peak swiftly after Europe opened

  • No news or data triggered the rise

  • No tech break triggered this rise, pair reached 1.0130 in Asia then dropped

  • The intensity of buying is similar to that seen after major news

  • EUR/USD has broken 55-DMA 1.0147 and challenged daily cloud 1.0201-1.0370

  • Dip from high has been modest, bullish momentum retained

  • The rise has the hallmark of intervention nL1N30J09W

Source:
Refinitiv IFR Research/Market Commentary

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