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Nov 15 - 11:55 PM

EUR/USD - Claws Back Some Ground But Trend Is For Lower Still

By John Noonan  —  Nov 15 - 10:18 PM
  • EUR/USD opened -0.67% at 1.1366 after falling sharply on break of 1.1400

  • A dovish turn in ECB expectations was the catalyst for the fall nL1N2S60WI

  • After trading at 1.1360 it tracked higher on short-covering

  • Heading into the afternoon it is trading just below session high at 1.1385

  • EUR/USD trending lower with the 5, 10 & 21-day MAs in a bearish alignment

  • Only a break above the 10-day MA (1.1502) would suggest bottom is in place

  • The objective of the move is the 61.8 of the 2020/2021 move at 1.1290

  • US retail sales later today will be the main driver of the next move

  • For more click on FXBUZ









Source:
Refinitiv IFR Research/Market Commentary

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