Market is not random but unpredictable
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Euro Cracks 1.10 – Fade or Trade?
For the first time in nearly 8 weeks, EUR/USD broke through 1.10. Since Germany and France first proposed their recovery fund, we’ve been talking about a more meaningful turn in euro and have been looking for a break of this key level. Now that it happened, investors are focused on the upside but further gains should be limited ahead of the European Central Bank’s monetary policy announcement next week. Compared to other central banks, the ECB has been less eager to lower interest rates in favor of their Pandemic Emergency Purchase Program, which central bank member Villeroy described as a “masterpiece.” In ... (full story)
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