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A EURUSD Break of 1.2825 Isn’t Enough for a Bear Trend

By , Chief Currency Strategist
11 October 2012 03:33 GMT

US equities - one of the best measures of investor sentiment - tumbled for the third straight day this week Wednesday. With this move, risk trends are on the cusp of a seismic shift - one that can actually carry its weight rather than turn out a false breakout. The implications for FX traders are clear. EURUSD is meeting its own 1.2825 support level at the same time and there are plenty of other pairs out there whose setups are equally as attractive. However, we shouldn't abandon patience and scrutiny just because we are close. The burden for a fundamental change in trend is high and known catalysts with the proper influence are few before the weekend. We discuss this sentiment balance as well as trade setups for both a 'risk on' and 'risk off' market outcome.

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11 October 2012 03:33 GMT