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EUR/GBP momentarily out of favor

EUR/GBP showing very low price volatility across several time frames.

Intraday and daily EUR/GBP ATR measures, up from 30 min, simultaneously shrunk to levels not seen in the past four weeks of trading. Markets with extreme low volatility do not perform well because they have less direction for trend following and less volatility for mean reversion. It is advised to wait for an expansion of volatility before entering EUR/GBP.

USD/JPY: Bulls struggling below 50-DMA

The USD/JPY pair is currently seen gathering pace to pierce through the 120 barrier at one go, having failed a couple of times near the last.
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AUD/NZD fails near Thursday’s high and retreats

The New Zealand dollar remains pressured against its OZ neighbour in the mid-Asian trades, as the drop in dairy prices at the recent Fonterra’s auction refuels RBNZ rate cut bets next week.
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