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May 20 - 08:55 PM

EUR/USD - Double Top In View And Charts Suggest Further Gains

By Andrew M Spencer  —  May 20 - 07:24 PM

  • Steady after closing up 0.45%, as the USD eased with inflation fears

  • EU reaches deal on COVID-19 passes to rescue summer nL2N2N721L

  • If tourism fully returns, the EZ economic recovery will be robust

  • Wednesday's rejection of 1.2243 left a double top, strong resistance

  • Momentum studies, 5, 10 & 21 DMAs plus 21 day Bolli bands climb

  • Positive setup sustains the topside bias while 1.2115 rising 21 DMA holds

  • 1.286BLN 1.2200, 301M 1.2225, and 549M 1.2230-1.2250 strikes contain in Asia

  • 1.2182 London low and 1.2243 double top initial support and resistance

    For more click on FXBUZ


eur may 21 Click here

Source:
Refinitiv IFR Research/Market Commentary

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