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Jun 17 - 03:55 AM

EUR/USD - Likely To Bounce Before More Longs Exit

By Jeremy Boulton  —  Jun 17 - 02:28 AM
  • EUR/USD dives in wake of Fed reaching 1.1974 EBS below 200-DMA 1.1996

  • Yesterday's low at 1.1995 influenced by 200-DMA

  • Stops run under 200-DMA have resulted in fairly limited follow through

  • Pair stretched below base 20-Day Bollingers at 1.2027

  • The middle of this year's 1.1704-1.2349 extremes is 1.2026

  • 50% recent rise from 1.1704 is 1.1985

  • Centre of 20-week Bollinger bands is 1.2031, pair returns to neutral ground

  • Vols low, pressure on USD eased, traders heavily long EUR/USD

  • A bounce likely but also extended period long liquidation weighing EUR TWI


EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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