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Feb 23 - 05:55 AM

EUR/USD - Maintaining A Bid Despite Thursday's Drop

By Peter Stoneham  —  Feb 23 - 03:40 AM
  • Data driven volatility and a EUR/USD shake out Thurs

  • German Feb manufacturing PMI clear below 46.1 f/c at 42.3

  • IFO early Friday focus: bus climate exp. 85.5 vs 85.2: 0900GMT

  • No significant U.S. data, stocks likely lead risk appetite and the USD

  • EUR closed back below the 200DMA, 1.0828: nudges back above early Frid

  • Long upper candle shadow Thurs shouldn't be ignored

  • However, the sharp drop from 50DMA at 1.0887 keeps up-move healthy

  • Feb. 29 1.0932-37 cloud twist in the bullish mix: twists can attract

  • Risk of a bearish resumption but for now EUR/USD looks constructive

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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