I am usually Wrong
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Convinced by the EURO rally?
Risk sensitive currencies continue to be pulled in either direction by risk and aversion trading strategies. There seems little conviction in investors’ actions, with some currency moves remaining modest. Even with a strong Euro retail sales print (+0.9%) and a German factory orders release this morning (+2.8%), price action remains tentative as the EUR extends this morning’s rally. 1.47 option barriers are expected to slow the ascent. However, it’s the dollars demise that is providing most of the momentum even as the EUR enters overbought technical territory. The EUR feels it wants to stall and sputter.
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craptrader
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