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Nov 16 - 06:55 AM

EUR/USD - Another Big U.S. Sales Result May Accelerate EUR/USD Decline

By Jeremy Boulton  —  Nov 16 - 05:03 AM
  • U.S. retail sales at 13.30GMT seen +1.2% in October

  • Sep and Aug sales surprised at 0.7%, vs -0.2% and -0.8% f/cs

  • EUR/USD has broken down sharply in advance today's data

  • Vols rising sharply as result with specs in trouble nL1N2S70DO

  • Today's range 1.1358-85, Nov 15 low 1.1356 EBS

  • 61.8% Mar 2020-Jan 2021 rise at 1.1290 is now within reach

  • Break of 1.1290 may accelerate the decline as longs exit

  • 76.4% same move is 1.1040, the gateway to 2020's 1.0636 low




EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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