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Aug 23 - 09:55 PM

EUR/USD - Topside Failure And Bearish Outside Day Weighs

By Andrew M Spencer  —  Aug 23 - 08:00 PM
  • Flat after closing off 0.53%, as the USD firmed on resilient data

  • IMM - EUR long cut 2,808 to 196,943 contracts despite EUR 1.6% rise in week

  • Second coronavirus wave fears in France nP6N29101S, and Italy nL8N2FO0T1

  • Techs; 5, 10 & 21 DMAs coil, momentum studies edge lower - neutral setup

  • Friday's dip left a bearish outside day, needs close below 1.1754 to verify

  • Upper 21 day Bolli capped - close below 1.1809 21 DMA a negative signal

  • Topside failure targets 1.1695-03, August low and lower 21 day Bolli band

  • NY 1.1754 low and 1.1850 241mln strikes are initial support-resistance

    For more click on FXBUZ

data aug 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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