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Oct 18 - 09:55 PM

EUR/USD - Bid With Potential For A Breakout Towards 1.1740

By Andrew M Spencer  —  Oct 18 - 08:30 PM

  • +0.1% after closing up 0.1% - gently bid below key 1.1620 resistance

  • Despite dovish ECB, EZ yields rising on hawkish global outlook nL1N2RE1GE

  • On the USD side, inflation fears are rising, as growth stalls nL1N2RE14M

  • Uncertainty looks to be a constant this winter, as COVID-19 fight continues

  • Charts, 21 day Bolli bands contract, 5, 10 & 21 day moving averages conflict

  • Momentum studies climb - neutral setup suggests further consolidation

  • Pivotal 1.1620 21 DMA in view, close above targets 1.1741 upper 21 day Bolli

  • 1.1600/15 1.282BLN strikes a base in Asia - no close major topside strikes

For more click on FXBUZ


eur Oct 19 Click here

Source:
Refinitiv IFR Research/Market Commentary

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