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Thomson Reuters
Jul 10 - 03:48 PM
EUR/USD - Powell Induced Gains Sustained, More Gains Likely
First appeared on eFXplus on Jul 10 - 02:05 PM
  • Powell testimony taken as dovish, sharp fall in UST yields & US$
  • Higher chance Fed cuts, DE-US spreads tighten, EUR/USD rallies
  • Eurodollar & FFF futures price gain as mkt look for cuts
  • 55-DMA cleared, 1.1260 ultimately breached, little pullback seen
  • 1.1280/00 (10- & 21-DMAs, July 5 high is next hurdle for bulls
  • Expected Fed rate path likely to trump ECB expectations

chart: Click here

Source:
Thomson Reuters IFR Research/Market Commentary

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