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Trade idea: Sell EURUSD on US debt resolution
Richard Perry from Central Markets is looking to "play the resolution in the US debt ceiling" and is selling euro dollar.
The US Congress has passed a bill to reopen the government and raise the federal debt limit, with hours to spare before the deadline to raise the USD 16.7 trillion limit.
The bill extended the treasury's borrowing authority until 7 February.
On the technical side, Richard says he is seeing a "nice top pattern playing out" and a series of lower-highs. He is looking for an opportunity to sell in to this rally.
He says the moving averages are also playing over and he is looking for a test at USD 1.3463.
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01:06 minutes
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