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What USDJPY Tells US of the EURUSD and S&P 500 Break Downs


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After 8 tenuous trading days, the S&P 500 finally cleared the floor of its exaggeratedly tight range. As it happens, EURUSD would make the same move with the ECB decision stirring volatility. As technically-loaded as these moves are, follow through is complicated; but USDJPY may offer helpful tracking.

 

 

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It's likely the ECB decision shall come when all restrictions around the world will be removed, the restrictions seem to generate the volatility rather than a delayed decision which under normal circumstances would have maintained the current levels. 

The upcoming positive news and events will probably cover the present markets' sentiment for a couple of days, time enough to form new patterns, new resistance and new support levels on 4 hours and 1 day timeframes.

Unfortunately when it comes about Fx pairs, cannot be two winners at the same time 😀.

It's worthy being focused on European and British capital flows in two giant Red countries, it might become long term opportunities without prior notice.

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On 11/06/2022 at 11:59, RomPathsSwap said:

ECB decision

Euro Price Forecast: Tough Task for ECB as Periphery Spreads Widen, EUR/USD Below 1.05

Jun 13, 2022 | DailyFX
Warren Venketas, Analyst

EUR/USD TALKING POINTS

  • Upcoming Fed rate decision.
  • Periphery spreads widen.
  • EUR/USD bears look to subsequent support.

Today sees several European Central Bank (ECB) officials scheduled to speak and bring further insights into ECB President Christine Lagarde’s statement last week. These include Robert Holtzmann, Gediminas Simkus, and Luis de Guindos.

There has been much talk around the challenge for the ECB regarding periphery bonds and the euro. Periphery bonds relate to the so called ‘non-core’ nations representing the EU such as Spain or Italy as they carry higher bond yields along with more volatile spreads. The gap/spread between Italian bonds and the benchmark German bond are increasing as fears around rising interest rates will make debt obligations harder to meet. Navigating a weakening euro with the periphery banks conundrum requires a fine balancing act by the ECB to maintain order in the eurozone.

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