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  • The path for the Japanese Yen seems to favor the downside looking at a majors-based index. USD/JPY may rise within its Ascending Channel, but there is some scope for a healthy correction. Get your market update from @ddubrovskyFX here:https://t.co/7XFJiCYYEM https://t.co/KfLyB2t1jP
  • The British Pound’s recent slip lower against its major counterparts may prove short-lived. Key levels to watch for GBP/USD, GBP/JPY, GBP/CHF and EUR/GBP. Get your $GBP market update from @DanielGMoss here:https://t.co/Y48cF2qi9M https://t.co/ia3Bgq0ZTp
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  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.07% 🇨🇭CHF: -0.24% 🇳🇿NZD: -0.36% 🇬🇧GBP: -0.41% 🇪🇺EUR: -0.50% 🇦🇺AUD: -0.54% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/EK7xQumFxO
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.46%, while traders in GBP/JPY are at opposite extremes with 68.97%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/74GpZteOGK
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Strategy Video: Euro Risks Are Not Extinguished by ECB Stimulus

Strategy Video: Euro Risks Are Not Extinguished by ECB Stimulus

John Kicklighter, Chief Strategist

Talking Points:

• Stimulus will help the Eurozone's growth, financial stability and budget wrangling

• However, the major themes influencing the shared currency only offer tepid best-case scenarios

Euro trades should weigh monetary policy, global investor sentiment and sovereign stability

Want to develop a more in-depth knowledge on the market and strategies? Check out the DailyFX Trading Guides we have produced on a range of topics.

An open-ended QE program from the European Central Bank adds support for the Euro-area's economy and financial system. However, it doesn't automatically preempt the major fundamental themes that will continue to direct the Euro moving forward. Monetary policy has been the most prolific catalyst for the shared currency over the past six months, and it will continue to exert force going forward. However, a good deal of its pent up potential energy has been used. Meanwhile, stimulus may boost speculators' moods and lift hopes for relief in budgetary troubles; but global risk trends and political troubles are unlikely to be contained. What are the major themes we should watch for the Euro's medium to long-term bearing? What are the scenarios. Which pairs are best positioned? We discuss that in the Weekend Strategy Video.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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