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EUR/USD: Wrestling T-Junction & Sideways - JP Morgan, UOB
The markets are still not providing any striking fresh insight, but what was quite obvious over the course of the last 2-3 trading days was the fact that the USD stabilized across the board, notes JP Morgan Techs. This could certainly be an early indication that the long-term USD up-trend is getting ready to be resumed shortly. Specifically in EUR/USD, JPM notes that the market keeps on wrestling with the first decisive T-junction at 1.1377 (minor 76.4 %), which has to be broken decisively on hourly close (i.e. above 1.1400) to support an extension into 1.1564 (int. 76.4 % on higher scale). "Only a decisive ... (full story)
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