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Thomson Reuters
Jul 04 - 05:00 AM
EUR/USD - The 21-DMA Break May Herald The Start Of A EUR/USD Rally
First appeared on eFXplus on Jul 04 - 02:40 AM
  • USD/CNY selling influences broad USD decline with EUR/USD edging up
  • Pair above 21-DMA adding a bullish tech trigger to other bullish factors
  • CNY TWI still 3.1% below June high, underpinning euro as major component
  • Risk aversion eases but will not disappear, should work in euro's favour
  • Biggest change in EUR/USD positions has been establishment of fresh shorts
  • Bulk of shorts made on techs. Expect many stops over Jun 26 high 1.1722

EUR/USD daily Click here

CNY TWI Click here

Source:
Thomson Reuters IFR Markets

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