EURUSD Still Owed a Breakout Post-ECB, S&P 500’s Hopes with PMIs a Long-Shot

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S&P 500, EURUSD, USDCAD and GBPUSD Talking Points

● The ECB rate decision proved far more dovish than I had expected, but that would neither lead to a critical Euro breakdown nor recharge risk appetite
● EURUSD is still due a critical breakout from a 17-day range that only has 5 other comparable periods of quiet in the Euro’s lifetime
● Top event risk for Friday focuses on the July PMIs but the market seem more flighty around the Delta variant

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