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Aug 27 - 11:55 AM

EUR/USD - Sudden EUR/USD Drop Could Lead To Significant Change

By Jeremy Boulton  —  Aug 27 - 10:20 AM
  • Knee jerk move today saw EUR/USD jump to 1.1903 EBS

  • Pair has since dropped like a stone to 1.1763 without any real driver

  • The reverse is likely due to the massive extent of spec betting

  • Should EUR/USD close below 1.1700 a much deeper drop is likely

  • This is not trend changing. It's necessary if the trend is to continue

  • Minimum correction target for this year's rally is 1.1457



EUR/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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