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Forex Discussions
Fundamental Analysis
AceTraderFx: Intra-Day Market Moving News and Views
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[QUOTE="AceTRaderForex, post: 189845, member: 22847"] [B]AceTraderFx [COLOR="darkred"] [B]Jan 07[/B]:[B] [/B][/COLOR]Intra-Day News and Views & data to be released today – EUR/USD Intra-Day Market Moving News and View[/B] Update Time[B]: 07 Jan 2021 [/B][I]05:30GMT[/I] EUR/USD - 1.2323... The single currency went through a roller-coaster ride on Wednesday as despite initial retreat from 1.2325 to 1.2276 in Asia, price rallied to a fresh 32-month peak at 1.2349 in Europe on usd's weakness together with cross-buying of euro especially vs sterling. Lack of follow-through buying triggered profit-taking and price tumbled to 1.2267 in New York morning before rebounding strongly to 1.2345 in Asia today. Despite yesterday's selloff from 1.2349 to 1.2267, subsequent rebound to 1.2345 today suggests the pullback has ended and Medium Term upmove would resume after consolidation and head to 1.2368/70, then 1.2388. Bids are now seen at 1.2310/20 and more below at 1.2290/00 with stops building up below there whilst initial offers are noted at 1.2390/00. There is a slew of economic data due from the eurozone today and one should pay particular attention to EU retail sales mm and yy at 09:00GMT. Street forecasts are -3.4% and 0.8% vs previous readings of 1.5% and 4.3% respectively. [/QUOTE]
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