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EURUSD - Surges to Seven Week High Above 1.11 Despite Attacks on ECB

 

 
In the last few weeks the EURUSD has surged higher to its highest levels in more than seven weeks including a strong surge in the last two days which pushed it through the key 1.11 level. Last month the EURUSD was applying pressure and threatening to break through the key 1.11 level for two weeks, which offered strong resistance in this period, which is why the recent break is significant and may see the 1.11 level offer some support. Only a few weeks ago, the EURUSD dropped to a two year low down towards 1.09 and started to look precariously placed with no more obvious support levels below it.
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ZEW Germany Economic Sentiment Indicator

Today at 10:00am UK time. ZEW Economic Sentiment Indicator is calculated monthly surveying around 300 experts on their expectations concerning the economy, inflation rates, interest rates, markets, and oil prices for the next six months. F:-33.4, P:-22.5. #EURUSD may test 1.11

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Valutrades Market Blast Technicals 15 October 2019

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Germany Industrial Production m/m

Today at 7:00am UK time. Industrial Production m/m reflects changes in the total production of German plants, factories, mines and utility companies in the reported month compared to the previous one. F: 0.2%, P: -0.6%. #EURUSD may test 1.10.

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Market Recap: 23 - 27 September

 

 
On Tuesday last week we covered the AUDUSD which spent the rest of the week resting on support at 0.6750. In the last week or so the AUDUSD fell sharply back down to the key 0.6750 level, after having previously consolidated well right above 0.6850 after it surged to its highest levels in one month back above this key level. The 0.6850 level had previously supported the currency pair through May and June. This recent surge was quite unexpected as the AUDUSD had been lingering down near 2019 lows looking poised to continue lower below 0.67, which it may still do.
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EURUSD - Drops to Two Year Low Near 109 as ECB Appears Divided

 

 
In the last week or so the EURUSD has dropped lower to a two year low down towards 1.09 as it now looks precarious with no more obvious support levels below it. For the previous two weeks it had been applying pressure and threatening to break through the key 1.11 level which has offered some resistance in this period. Several weeks ago, the EURUSD fell strongly back down through the key 1.11 level where it had been enjoying support from for the last month or so.
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Valutrades Market Blast Technicals 17 September 2019

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ZEW Germany Economic Sentiment Indicator

Today at 10am UK time. ZEW Economic Sentiment Indicator is calculated monthly surveying around 300 experts on their expectations concerning the economy, inflation rates, interest rates, markets, and oil prices for the next six months. F:-34.7, P:-44.1. #EURUSD may test 1.11.

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Market Recap: 9 - 13 September

 

 
On Tuesday last week we covered the AUDUSD which spent the rest of the week consolidating its recent push higher. In the last week or so, the AUDUSD surged to its highest levels in one month back above the key 0.6850 level which had previously supported the currency pair through May and June. This recent surge was quite unexpected as the AUDUSD had been lingering down near 2019 lows looking poised to continue lower below 0.67.
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EURUSD - Remains Below Key 1.11 as ECB Cuts and Restores QE

 

 
In a very volatile last 24 hours the EURUSD has traded down close to its two year low and also threatened to break through the key 1.11 level which has offered some resistance in the last two weeks. Two weeks ago the EURUSD fell strongly back down through the key 1.11 level where it had been enjoying support from for the last month or so. In doing so it fell down to its lowest levels in more than two years and now looks precarious with no more obvious support levels.
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