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Forex: EUR/USD stuck around 1.3000

Nothing seems to break the existing dullness surrounding the single currency so far, which remains trapped in a very narrow range around the key mark at 1.3000

In the wake of the last CFCT COT report, S.Galy, Analyst at Societe Generale, argues “It suggests that the market is continuing to bet that whether in a risk off environment or a risk on environment the USD has more chances to rise vs. mature economies such as those of the UK, EU or Japan… The divergence between a steady recovery in the US and an uneven one in Europe continues, helping to comfort EURUSD shorts”.

At the moment, the cross is up 0.03% at 1.2999 with the next resistance at 1.3044 (MA10d) followed by 1.3126 (MA100d) en route to 1.3135 (high Mar.8).
On the downside, a dip beyond 1.2956 (Mar.8) would clear the way to 1.2929 (low Dec.11) and then 1.2881 (low Dec.10).

European indexes and US futures in risk-off on Italy downgrade and US budget

The German DAX 30 (-0.29%), the French CAC 40 (-0.46%), the Italian FTSE MIB (-0.91%) and the Spanish IBEX 35 (-1.61%) are falling on Monday, like most European equity indexes and US futures such as S&P 500 (-0.13%), Nasdaq 100 (-0.20%) and Dow Jones (-0.11%).
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Forex Flash: CAD at a considerable risk of a short squeeze – TD Securities

According to TD Securities analysts, the broader trend for USD/CAD remains bullish, with a growing potential for a short term pullback with momentum stalling over the past week. "Friday’s CFTC report also showed the net CAD short position had extended massively as of last Tuesday (ahead of the BoC) to the largest position since Q1 2007", wrote analysts Shaun Osborne and Greg Moore, admitting that the CAD is at a considerable risk of a short squeeze.
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