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Jul 26 - 10:55 PM

EUR/USD - Downtrend Under Pressure - Pivotal Resistance In View

By Andrew M Spencer  —  Jul 26 - 08:42 PM

  • Steady early after closing up 0.3% - soft safe haven USD, as risk firmed

  • Global economy to strengthen, but coronavirus is the wild card nL4N2P107Z

  • Economist support central banks, believing current inflation is transitory

  • Charts; 5 & 10 daily moving averages base, 21 days still head lower

  • 21 day Bollinger bands contract - mixed signals leave downtrend in place

  • Close above 1.182 21 daily moving average needed to end downside bias

  • Rejection of lower 21 day Bolli and 21 DMA break to target 1.1897 upper band

  • European 1.1767 low and NY 1.1817 high is initial support and resistance

For more click on FXBUZ


eur jul 27 Click here

Source:
Refinitiv IFR Research/Market Commentary

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