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Oct 02 - 09:48 PM
EUR/USD - Strikes A Magnet, As Conflicting Factors Impact
First appeared on eFXplus on Oct 02 - 07:30 PM
  • Flat after closing up 0.2% - USD led as Wall Street & UST yields slipped

  • Fresh US tariffs, led by EU aircraft, to weigh going forward nL5N26N26O

  • UK made a final Brexit offer to the EU - met with caution nL5N26M6LX

  • No deal Brexit with the current weak outlook for global growth - a disaster

  • Charts - bearish bias while trend line from June high holds - today 1.1035

  • 1.0863, 76.4% of the 2017/2018 rise is initial significant support

  • 1.0900 500M strikes support, 1.0965-75 1BLN a magnet, then 1.1000 1.7BLN

eur oct 3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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