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May 13 - 07:55 AM

EUR/USD - Capitulation Drives EUR/USD Below 21-DMA, 100-DMA Next

By Jeremy Boulton  —  May 13 - 06:34 AM
  • EUR/USD long liquidation dominates in wake U.S. CPI shock nL1N2N00C3

  • Pair initially based ahead middle 20-day Bollingers nL1N2N009Z

  • Now broken below mid-point BBs and 21-DMA at 1.2064

  • Today's range 1.2106-1.2052 EBS, 100-DMA at 1.2045 under threat

  • Stops likely below 100-DMA and a cloud twist more likely to attract

  • Daily Ichimoku cloud twists 1.1970-73 start June

  • 55-DMA at 1.1961 set to cross below 200-DMA at 1.1954

  • Inflation shock poses less risk for currencies nL1N2N00MS




EURUSD Click here

EUR/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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