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EUR/USD trading 5 pips or so softer.....>

EURO-DOLLAR
EURO-DOLLAR: EUR/USD trading 5 pips or so softer at $1.1460, with little in the
way of EZ specific developments noted over the last 48 hours or so. The EZ
economic slowdown, as well as the Italian political & fiscal situation, France's
social issues & German politics, in addition to Brexit provide a wide array of
talking points around the rate as we enter 2019.
- EUR/USD continues to show signs of bullish exhaustion, although the close
above $1.1450 keeps the broader picture somewhat positive. Bulls still need to
recover the 100-DMA at $1.1479 to cement a bullish breakout. Bears look for a
break below cloud base support and the 50-DMA at $1.1375/70.
- Final EZ manufacturing & services PMI data will hit today & Friday
respectively, with preliminary EZ CPI data due Friday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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