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The Euro Grinds Higher despite Record Bullish Bets – EUR/USD Market Outlook – 18/08/2020


The Euro continued to grind higher towards 1.19 as expected, despite record bullish bets on the Euro which is usually a contrarian signal. The USD remains broadly offered amid falling Treasury yields, therefore the decline could extend today if the 10-year yields keep falling, pushing the Single currency towards 1.20. However, if 1.19 acts as resistance, it will keep the pair within the same consolidation range until further notice.

Support: 1.1860 / 1.18
Resistance: 1.19 / 1.20

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/the-euro-grinds-higher-despite-record-bullish-bets-eur-usd-market-outlook-18-08-2020
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