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Mar 31 - 02:55 AM

EUR/USD - Has Reached Target, The Situation Will Change

By Jeremy Boulton  —  Mar 31 - 02:31 AM
  • EUR/USD has effectively reached 1.1695, 38.2% rise since Mar 23 2020

  • This is the minimum objective for a technical correction of the uptrend

  • To date the correction has been driven by unwind of longs nL1N2LS0EO

  • If the sell-off is to continue traders will have to short EUR/USD

  • EUR shorts to fund investments are more likely than EUR/USD shorts

  • U.S. yields have only risen a 2bps in past 2 weeks

  • EUR 1 year forward swap has slipped slightly this year, less weight EUR/USD

  • USD in focus but core of movement is related to risk/stimulus nL1N2LS0DG


EUR/USD yields and forwards Click here

Source:
Refinitiv IFR Research/Market Commentary

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