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Jan 24 - 06:55 AM

EUR/USD - Overbought - Top Likely

By Jeremy Boulton  —  Jan 24 - 04:43 AM

• EUR/USD rises to 1.0515 EBS above 1.0480 peak 20-day Bollinger bands

• Target for correction of downtrend is 1.0573

• Stop hunt above 1.05 may well be completed

• Reserve managers may use this opportunity to purchase dollars recently sold

• Still little clarity surrounding U.S. policies which will underpin USD

• It's vital to remember that few traders own dollars


EURUSD


(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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