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May 09 - 01:55 AM

EUR/USD - Bounce Stalled - Waiting For The Next Trigger

By Andrew M Spencer  —  May 09 - 12:00 AM
  • Steady in a tight 1.0742-1.0751 EBS range in a low-key FX session in Asia

  • German and French bank holidays, so likely quiet into the BoE rate decision

  • EUR/GBP flows may lead EUR after the decision - expecting a dovish hold

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

  • 21-day Bollinger bands expand - bounce stalled awaiting the next trigger

  • 1.0790 upper 21-day Bolliger band and last week's 1.0812 high key resistance

  • Friday's 1.0724 base and last Thursday's 1.0675 low are initial supports

  • 1.0750/55 1.242 BLN and 1.0760 1.003 BLN are the close strikes for May 9th

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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