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EUR/USD, GBP/USD Hover Near Breakout Levels - Patience Required
The major European currencies could be close to a crucial turning point versus the US Dollar over the coming days. However, low volatility has restrained significant moves. In fact, EURUSD 10-day ATR (average trading range) has fallen to its lowest level since mid-2007 – right before the major explosion of volatility that dominated 2008-2011, of course. That’s not to suggest another 2008 crisis is coming; but rather a commentary on the complacency of market participants in recent weeks. Patience is required in this current market atmosphere. Thankfully, activity on the fundamental front has provided the potential ... (full story)