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EUR/USD Weekly Outlook July 25-29
Volatility in EUR/USD has decreased following the EU referendum, as markets await further direction from the central banks, and assess the impact of the UK vote. The ECB held their meeting in the prior week, and Draghi had little to offer to the markets. The central bank has chosen to push back their decision regarding any action they may take to allow time for further evaluation. The meeting introduced little volatility but kept the pair below resistance seen at 1.1023. Positioning in the Euro has shown consistent increases in short positioning by non-commercials. Data from the COT report up to July 19 indicates a ... (full story)