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Jan 27 - 01:55 AM

EUR/USD - Uptrend Resilient Into Major Event Risk Next Week

By Andrew M Spencer  —  Jan 26 - 10:10 PM

  • Steady in a tight 1.0886-1.0900 range, side-lined in Asia by JPY volatility

  • No tier one data in Europe, so risk appetite and the USD will likely lead

  • Hawkish ECB comments Thursday - Feb 2 50pt hike expected - outlook key

  • Charts; neutral momentum studies, 21 day Bollinger bands edge higher

  • 5, 10 & 21 day moving averages continue to rise - bullish setup

  • Major resistance at 1.0938 50% of the 2021-2022 fall remains resilient

  • Close below 1.0769 rising 21 day moving average would end topside bias

  • 1.0850-1.0917 New York range is initial support and resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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