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May 19 - 08:55 PM

EUR/USD - Uptrend Remains In Place - Large Strikes Contain

By Andrew M Spencer  —  May 19 - 07:50 PM
  • +0.05% after closing unchanged on Friday with the U.S. dollar flat

  • Yield spreads tightened, 10yr bund +7bp 2.513%, 10yr UST +5bp 4.420%

  • Ukraine braces for 'heavy battles', as Russia continues to advance

  • Charts - momentum studies conflict, 5, 10, and 21-day moving averages climb

  • 21-day Bollinger bands rise - uptrend stalled, but remains a positive setup

  • Targets 1.0898 0.786% of the March/April fall, then the 1.0980 March high

  • Europe's 1.0836 low, then the 1.0815 rising 10 DMA are initial supports

  • 1.0850/55 1.682BLN, 1.0875 1.209BLN, 1.0890/00 2.2278BLN strikes for May 20

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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