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FxWirePro: EUR/USD trades lower on hawkish FOMC minutes and rising Italian bond yield, good to sell on rallies

EURUSD has pared most of its gains made this week. The pair hits high of 1.16212 on Oct 16th 2018 and declined more than 100 pips yesterday after Fed meeting minutes. It is currently trading around 1.14849.

 

The FOMC minutes has been interpreted as hawkish and it was very clear that Fed is to continue hike rates gradually despite recent criticism from President Trump. The 10 year US bond yield recovered more than 2% and jumped till 3.21%. The recent high made was 3.25%.

 

The rise Italian bond yield also putting pressure on Euro. It has jumped more than 3% for the day and is trading around 3.63%. The high made was 3.63%.

 

Technically the pair has broken 1.1500 and declined till 1.14826 for the intraday. The low previously made was 1.14320 and any major weakness can be seen below 1.14300 and any break below 1.14300 targets 1.1380/1.1300.

 

The near term resistance is around 1.15350 (10- day MA) and any violation above targets 1.1560/1.1620. The minor bullishness above 1.16200.

It is good to sell on rallies around 1.1540 with SL around 1.1600 for the TP of 1.13050.

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December 10 11:00 UTC Released

PTGlobal Trade Balance

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-4.525 Bln EU

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Previous

-4.179 Bln EU

December 10 11:00 UTC Released

GBBBA Mortgage Rate

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4.45 %

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4.45 %

January 31 00:00 UTC 451407451407m

ARAnnual Primary Balance*

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2016 bln ARS

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January 22 19:00 UTC 463227463227m

ARTrade Balance

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-1541 %

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Bln AR bln ARS

January 22 19:00 UTC 463227463227m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 451407451407m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 451407451407m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 451407451407m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

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