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EUR/USD: Vacuum Of Support; USD/JPY: Bear Triangle - Nomura
EUR/USD is unfolding lower as opined based on the choppy bear consolidation that completed at 1.3750, notes Nomura. This, according to Nomura, leaves longer-term trends from July clearly broken with a sustainable break below 1.3508 lows suggests a deeper decline. "The next pivot and trend supports don’t emerge until 1.3296 & 1.3200 respectively. S/t, Rallies can find resistance at 1.3580 which has acted as a key pivot over the last weeks," Nomura projects. In line with this view, Nomuar looks to be short EUR/USD now that wave-(2) correction complete. Nomura holds a medium/high conviction on this view. In USD/JPY, ... (full story)
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Markets always behave irrationally...fuzzy logic, fallacies, cognitive bias
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Markets always behave irrationally...fuzzy logic, fallacies, cognitive bias
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Markets always behave irrationally...fuzzy logic, fallacies, cognitive bias
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