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Jun 16 - 03:55 AM

EUR/USD - On Course For 2020 High And Beyond

By Jeremy Boulton  —  Jun 16 - 02:45 AM
  • EUR/USD bounced strongly from precisely where was needed

  • Pair fell to 1.1212 on Jun 12 rising to 1.1348 (EBS) earlier today

  • 1.1212 was a 38.2% retrace of latest upleg rise from 1.0871 on May 25

  • A powerful rally has been sufficiently corrected. Followed by swift rise

  • Bullish techs and momentum and specs are not too long either IMM/FX

  • In contrast option traders look short of cover above 1.1500

  • Fibo targets drawn off recent action, 1.1423, 1.1488, 1.1554 and 1.1765

  • Related comment for today's ZEW data nL1N2DT0AX




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Source:
Refinitiv IFR Research/Market Commentary

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