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market outlook

Trade of the week

EURUSD Struggles to Push Higher

A relatively calm week ahead data-wise as traders leave for a well-deserved Christmas on Wednesday. We would expect the euro to pull back for lack of a significant catalyst. Some medium-impact data like US new home sales and initial jobless claims could stir up intraday volatility.

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A technical retracement from the high of 1.1170 is likely to continue after the long spike failed to close above the October highs. 1.1050 will be a major support level to watch.eurusd

GBPUSD at 30-Day MA

Prime Minister Boris Johnson received the green light for his Brexit deal from a Tory-controlled parliament on Friday. However, the pound sterling gave up its election gains as the UK will now face the reality of negotiating a trade deal with the European bloc. Enthusiasm has turned into a new phase of concerns and we would expect the pound to be on a corrective course.

The price ha...

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