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Jul 08 - 07:55 AM

EUR/USD - Low Was Defined By Mathematics, Not Magic

By Jeremy Boulton  —  Jul 08 - 06:00 AM
  • Jul 8 EUR/USD tumbles to 1.0072 EBS, lowest since Dec 2002

  • Limit for correction EUR/USD rise from record low to all-time high is 1.0072

  • That is a 76.4% retracement 0.8228-1.6040 rise (2000 low, 2008 high)

  • Close below 1.0072 would target drop to record low nL1N2YP0FF

  • Traders hold very few bets on a drop, economists are bullish nL1N2YP0HB

  • There is scarcity of options below parity shown in bubble chart

  • Bubbles represent EURUSD expiries until end 2022, big bubbles-big expiries

  • For EUR/USD onwards is downwards nL1N2YP0F4



Source:
Refinitiv IFR Research/Market Commentary

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