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Nov 19 - 08:55 PM

EUR/USD - Soft Early, But Bid Riding The Return Of Risk Appetite

By Andrew M Spencer  —  Nov 19 - 06:45 PM
  • -0.05% after closing up 0.55% amid broad risk 'on' USD weakness

  • Moody's lifted Italy's debt outlook to stable - which was unexpected

  • Italy's outlook upgraded to stable from negative - positive for PM Meloni

  • Charts - a bullish outside day on Friday, momentum studies head higher

  • 5, 10 & 21-day moving averages climb, 21-day Bollinger bands expand

  • A positive trending setup targets 1.0959 61.8% of the 2023 fall

  • Close below the 1.0806 200-day moving average would end the topside bias

  • 1.0900/05 885mln 1.0920/30 985mln are the close strikes for Nov 20th

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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