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Nov 18 - 04:55 AM

EUR/USD - May Soon Have Another Shot At 1.0500

By Jeremy Boulton  —  Nov 18 - 02:40 AM
  • Following 1.0481 high EUR/USD dips have been shallow, low 1.0306 EBS

  • Lofty consolidation following rise from 0.9730 is a bullish sign

  • Traders already positioned for a rise seem inclined to hold

  • Oil's plunge below $90 may fuel more EUR demand nL1N32E0FF

  • Oversold techs that helped cap EUR/USD ahead 1.0500 now alleviated

  • Top 20-day Bollinger bands has risen to 1.0492

  • Target to correct downtrend following Fed taper is 1.0574

  • Close over 200-DMA at 1.0414 will spur more EUR/USD demand

Source:
Refinitiv IFR Research/Market Commentary

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