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Nov 16 - 09:55 PM

EUR/USD - Uptrend Consolidates, But In Play - Large Strikes

By Andrew M Spencer  —  Nov 16 - 07:00 PM
  • Steady after closing up just 0.05%, consolidating Tuesday's gains

  • Yield spreads tightened, 10yr bund -5bp 2.588% and 10yr UST -9bp to 4.441%

  • U.S. jobs and inflation supported the view that the Fed has ended rate rises

  • Charts - momentum studies plus 5, 10 & 21-day moving averages climb

  • 21-day Bollinger bands expand - signals show a positive trending setup

  • Targets a test of 1.0959 61.8% of the 2023 fall in July and October

  • Close below the 1.0804 200-day moving average would end the topside bias

  • 1.0825 1.259BLN, 1.0850 1.295BLN and 1.0875 1.037BLN close strikes Nov 17th

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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