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May 16 - 07:55 AM

EUR/USD - Wednesday's Acceleration Could Be Significant

By Peter Stoneham  —  May 16 - 05:35 AM
  • EUR/USD has played out a tight 1.0866-95 range so far Thurs

  • Improved risk sentiment and a lack of tier-one Eurozone data cited

  • A new trend high but this after an acceleration higher Wed

  • A strong push above the daily cloud should bolster the bull run

  • However, sometimes price can move sharply just before a direction change

  • Risk of a return to the 100-day moving average, currently 1.0822

  • Beware the big option related EUR/USD hedge flows nL1N3HJ0GN

  • Huge EUR/USD strikes expire at 10-am New York on Thursday nL1N3HJ0CL

  • 1.0845-50 (2.2BLN), 1.0875 (1.7BLN), 1.0900 (1.6BLN), 1.0915-20 (1.9BLN)

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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