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OECD speaks but will the markets take notice?- EUR/USD teetering on support

A short while ago the Organisation for Economic Co-operation and Development (OECD) just announced their revised global growth forecasts for 2024. The OECD have raised their growth outlook for the US, at the same time as lowering it for the Eurozone. Just as this was breaking across the wires the EUR/USD was hitting session lows at 1.0970. So, as you can see, it has come close to asking a question that was begged here earlier today. Well, so far that 1.0965 level is holding firm and if there are stops in place below, it is unclear whether or not someone wants to squeeze them out. At the same time, it is also possible that there are now buyers in place just above the level and that might have helped to halt the drop so far. Look, this is always a six million dollar question, as to which side will win out in these situations, but if nothing else today, at least those of you new to the game will hopefully have gleamed a bit more insight. The question right now, is whether or not the longer term money flow will take any notice of those OECD projections- they should.The EUR/USD is presently trading at 1.0972

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