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Apr 28 - 10:55 PM

EUR/USD - Chance Of A Month End Correction As U.S. Outlook Wavers

By Andrew M Spencer  —  Apr 28 - 10:15 PM

  • Up 0.2%, as the U.S. dollar softens amid month end rebalancing flows

  • Major U.S. companies cautious on their outlook, led by Apple nL2N2WQ32E

  • Amazon nL3N2WQ4SI and Intel nL3N2WQ4SL also see clouds on the horizon

  • Euro sold heavily this week in a large part due to U.S. economic resilience

  • Chance of a stronger month end correction as U.S. economic outlook wavers

  • Charts; 5, 10 & 21 DMAs, 21 day Bollinger bands and momentum studies fall

  • Bearish setup targets the long term 1.0340 low in January 2017

  • Close above 1.0800 21 day moving average needed to undermine downside bias

    For more click on FXBUZ


eur 2 apr 29 Click here

Source:
Refinitiv IFR Research/Market Commentary

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