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Thomson Reuters
May 08 - 03:48 AM
EUR/USD - Shorts At Risk After German IP Data Boost, 21-DMA Key
First appeared on eFXplus on May 08 - 02:20 AM
  • EUR/USD sold as low as 1.1167 yesterday but has staged series rising lows
  • Rising lows suggest those short (growing lately) may be overreaching
  • May 3 1.1135, May 4 1.1155, May 7 1.1167, today 1.1189
  • EUR/JPY and EUR/CHF sales weighed, but euro is a safe asset also
  • Rebound threats 21-DMA 1.1224 and May 7 high 1.1218 after German IP surprise
  • IP 0.5%mm vs -0.5% f/c nS8N22B04W. 21-DMA break risks May 1 peak 1.1265

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Source:
Thomson Reuters IFR Markets

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