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Oct 21 - 05:55 AM

EUR/USD - May Have Found The Middle Of A New Range

By Jeremy Boulton  —  Oct 21 - 03:56 AM
  • In 2021 EUR/USD has traded a series of slowly falling ranges

  • The last of these (rough 1.16-19) held between June and September

  • As 1.16 also represented longer-term lows a break should have sparked vol

  • Volatility remained low, break uninspiring, another range likely to develop

  • If this range is close to 1.15-18 then EUR/USD is already on neutral ground

  • If the 1.16 break has more impact, range may be lower, perhaps 1.14-17

  • Pair's rise has slowed since trading 1.1670, 38.2% drop from Sep's high

  • Correction target for drop since June Fed meeting is 1.1756

  • Options suggest no big movement, spec shorts are likely to grow




EURUSD Click here

EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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