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      Forex: EUR/USD extending downside

      The EUR/USD was trading -0.46% lower on the day, at 1.3520, the lower band of the trading range seen during the European session after falling from just below 1.3600 on the Asian shift. However, after its fourth attempt to try a move lower, below 1.3520 intraday support, the pair is giving in and has already printed a low at 1.3507.

      The economic calendar is pretty empty for the rest of the day, but investors will be eyeing tomorrow’s ECB monetary policy decisions and press conference. After yesterday's remarks made by French President Hollande about the Euro being too strong and in need of a defined exchanged rate, the market is expecting ECB's Draghi to approach the subject despite his aversion to talk about the exchange rate.

      German factory orders were just released, disappointing investors with a wider annualized fall than expected, from -0.9% (revised from -1.0%) to -1.8%, instead of the -1.2% consensus. On the month, orders have risen by +0.8%, not as much as the +0.9% expected.

      “Yesterday's rise peaked at 1.3590 resistance area and current intraday bias is negative, as the pair is heading for a break through 1.3470, towards 1.3390 support zone”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to positive outlook on the higher frames, targeting prices beyond 1.3710.

      Forex: EUR/PLN retreats from highs after NBP

      The Polish zloty has depreciated to the key resistance at 4.20 on Wednesday, following the NBP decision to cut the lending benchmark for the fourth consecutive time by 25 bps to 3.75%, broadly...
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      Forex: USD/JPY erases daily gains

      The USD/JPY is trading at the lower band of the trading range drawn during the European session, around the opening price of 93.63, with a Doji daily candlestick, having erased all gains made during the Asian shift to as high as 94.06.
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