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Currencies: EUR/USD No Longer Trendy
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[摘要] the uptrend in eur/usd is most likely over, and that we will remain in a trendless range for several months. the range, however, will be large enough (1.15-1.25) for eur/usd to remain interesting. i maintain my view that we are likely to trade solidly in the 1.15-1.20 range in q2, but trade higher in the 1.20-1.25 range in q3, as usd bears reestablish usd shorts on the back of more encouraging euroland data. however, these levels above 1.20 will not last, as euroland will continue to struggle under the weight of the eur. on the downside, the fuzzy range of 1.10-1.15 will be difficult to penetrate, mainly because of the asian central banks’ desire to diversify their reserves.
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