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Nov 13 - 05:55 AM

EUR/USD - Traders Stuck In The Middle Wondering What To Do

By Jeremy Boulton  —  Nov 13 - 03:40 AM
  • EUR/USD level reflects traders' indecision ahead ECB and year-end

  • EUR/USD settles close 1.1808, the centre of Sep-Nov range 1.1602-1.2014

  • 1.16-20 range has unfolded close to peak of 2020's 1.0340-1.2014 rally

  • A bullish situation but cause for caution in the near-term

  • EUR/USD's elevated status has curbed profit taking leaving many traders long

  • Profit taking common at year-end, risk heightened by imminent ECB ease

  • Another dip likely. A break from the range less likely




EURUSD Click here

EURUSD 2020 and spec betting Click here

Source:
Refinitiv IFR Research/Market Commentary

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