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Aug 29 - 01:55 AM

EUR/USD - Firmer In Asia - A Critical Period For The Uptrend

By Andrew M Spencer  —  Aug 28 - 11:40 PM
  • Trades 0.1% higher in a tight 1.1120-1.1133 range with the USD off 0.1%

  • German inflation leads EZ data risk then US GDP and weekly jobs

  • Charts; daily momentum studies crest, 21-day Bollinger bands rise

  • 5, 10 & 21-day & week moving averages climb - signals remain bullish

  • 1.1129 10-day moving average and Thursday's 1.1098 low are key supports

  • A close below 1.1098 would target the pivotal 1.1025 21-day moving average

  • Uptrend needs a close above 1.1201 soon, or signals will roll over

  • 1.1100 618mln and 1.1150/60 888mln are the close strikes for August 29th

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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