As you all have noticed, volumes are a lot lighter as markets catch their breath back. The two clashing forces on the risk front remain set to hijack the flows at any time:
1️⃣ an increasing R0 / case numbers and;
2️⃣ re-openings / economic surprises.
Overshoots on the European PMIs front this morning will be enough to trigger the final momentum leg. For those tracking the live flows in FX, invalidation in the current leg higher would come from a close below the 🔑 1.115x support in EURUSD .
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