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Jan 13 - 07:55 PM

EUR/USD - Opens Firmer, Vindicating Wednesday's Topside Break

By Andrew M Spencer  —  Jan 13 - 06:20 PM

  • Steady early after closing up 0.1%, vindicating Wednesday's topside break

  • Market is not pricing any real chance of a war in Ukraine nL1N2TT2DU

  • Polish foreign minister says Europe is the closest to war for 30 years

  • Charts; 5, 10 & 21 day moving averages rise, 21 day Bollinger bands expand

  • Momentum studies climb - topside break leaves a positive trending setup

  • Initially targets a test of 1.1498, 61.8% October-November fall

  • Upper 21 day Bolli band at 1.1425 suggests market short term overbought

  • Close below 1.1386 prior range high would undermine the topside bias

For more click on FXBUZ


EUR jan 14 Click here

Source:
Refinitiv IFR Research/Market Commentary

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