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EUR/USD Mid-Session Technical Analysis for October 30, 2018
The Euro is trading in a tight range on Tuesday. Prices continue to be influenced by the news that German Chancellor Angela Merkel would not seek re-election as head of her Christian Democrats (CDU) party. The single-currency is also being pressured by the ongoing standoff between Brussels and Rome over Italy’s free spending budget that would breach the European Union’s fiscal rules. At 1003 GMT, the EUR/USD is trading 1.1362, down 0.0011 or -0.10%. Buyers are being cautious because if the coalition in Germany collapses before 2019, that coupled with escalating problems in Italy could lead to a steep sell-off. ... (full story)
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