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Jun 09 - 04:55 AM

EUR/USD - Continues To Paint A Very Bullish Picture

By Jeremy Boulton  —  Jun 09 - 02:35 AM
  • Despite rally stalling pair is consolidating close to the highs

  • An elevated consolidation is underway despite fact traders sitting long

  • Will to book profits remains slight and dips shallow

  • Dip from Friday's 1.1384 peak is just 1% after a 5.6% rise in 16 days

  • Monday's low 1.1269 (EBS). Fibo projections @ 1.1390, 1.1465 and 1.1525

  • Currently risk aversion is rising, stemming from China, Korea, and HK

  • Closer U.S. involvement should shed the euro in a safer light




EUR/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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