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May 29 - 08:55 PM

EUR/USD - Bullish Outside Day Reset The Positive Signals

By Andrew Spencer  —  May 29 - 07:36 PM

• +0.05% after closing up 0.7%, with the U.S. dollar off 0.55%

• At UN, US says Russia's Putin should take Ukraine ceasefire deal

• Germany weighs 10% tax on online platforms like Google and Meta

• Charts - A bullish outside day - 21-day Bollinger bands expand

• Neutral daily momentum studies - 5, 10 & 21-day moving averages rise

• The outside day leaves reset the positive setup on the daily charts

• Yesterday's 1.1211 low, then the May 16th 1.1131 base are initial supports

• 1.1425 April 25th high and 1.1434 upper 21-day Bolli band first resistance

• 1.1340 834mln, 1.1350 510mln, and 1,1400 1.091 BLN close May 30 strikes
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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