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Cautious stance into the long holiday weekend


26 November 2020

Along with ongoing crosscurrents regarding record increases in virus cases and more stringent lockdowns, against increasingly promising vaccine news, the mass of US data showed weakness in jobless claims but strength in durable orders and home sales. – The dollar has remained soft. Although risk appetite has waned in global markets, it hasn’t been sufficient to warrant safe haven positioning, which would have put the U.S. currency in demand.

Today – ECB Lane and Schnabel speech, ECB Minutes and Tokyo Inflation


Biggest (FX) Mover – EUR the biggest gainer with EURUSD at +0.22% as of 10:00– It sustains month’s gains but remains off Augusts highs. It retested its R1 earlier but the flatted fast MAs and the shrinking BB suggest consolidation or even a near term pullback. MACD and RSI also flattened .H1 ATR 0.00085 Daily ATR 0.00625

#source

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