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Forex Discussions
Fundamental Analysis
AceTraderFx: Intra-Day Market Moving News and Views
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[QUOTE="AceTRaderForex, post: 193864, member: 22847"] [B]AceTraderFx [COLOR="darkred"]Apr 07: [/COLOR] Intra-Day News and Views & data to be released today – EUR/USD Intra-Day Market Moving News and Views[/B] Update Time[B]: 07 Apr 2021[/B] [I]05:30GMT[/I] EUR/USD - 1.1868... Although euro swung broadly sideways initially yesterday after retreat from Asian 1.1821 high to 1.1796 in Europe, price extended recent erratic rise on renewed usd's weakness and hit a near 2-week high of 1.1877 in New York before easing. Despite euro's resumption of decline from January's 2-1/2 year peak at 1.2349 to a 4-1/2 month trough of 1.1705 last Wednesday, subsequent rally to 1.1877 yesterday suggests temporary low is made and stronger retracement to 1.1925/30 would be seen after consolidation, however, overbought condition should cap price below 1.1947 today, yield retreat. Bids are noted at 1.1855-50 with stops below 1.1820-15 while offers are tipped at 1.1895/00 with more above and stops above 1.1940/50. Today is PMI day, street forecasts for Markit services PMI for France, Germany and EU are in-line with previous readings of 47.8, 50.8, and 48.8 respectively. If we see a reading above 50.0 mark, there could be another round of buying in euro. [/QUOTE]
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