Euro, Pound: Pause for Breath |
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Several chart- and market-technical factors speak for a pause now in the flight from the euro into the dollar or yen. First, there is the still overbought condition of the dollar, calling for at least some consolidation and, second, the exaggeration of the present market over the now upturning longer-term moving averages. Add to this the open short interest in the euro, doubling recently to a long-term high figure, and you have a picture too extreme to be consistent right now. The sovereign
Filed under: Technical
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