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Jul 31 - 07:55 AM

EUR/USD - REFILE-BUZZ-Profit Taking/month End Dents EUR/USD Rally, But Only For Now

By Richard Pace  —  Jul 31 - 05:50 AM

Adds line about key closing level

  • EUR/USD dropped back to 1.1836 from new 2-year high at 1.1908 early Friday

  • Dealers say some longs booking partial profits, waiting to add more on dips

  • Talk of trailing stops sitting in the upper 1.17's, but not large

  • EUR/USD closed above 61.8% Fibo retrace of 1.2556-1.0636 at 1.1822 Thurs

  • Opens scope to 76.4% at 1.2103. Big option barriers ahead of that at 1.2000

  • Options saw big gains Thurs-Fri nL2N2F2090, some supply here too since

  • Absence of EUR/USD topside option coverage over 1.20 a concern nL2N2F20AY

  • 1.1885 is key closing level - 100-monthly moving average nL2N2F2086


EUR=EBS Click here

Source:
Refinitiv IFR Research/Market Commentary

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