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May 19 - 09:55 PM

EUR/USD - Close Above Key Resistance Supports Further Gains

By Andrew M Spencer  —  May 19 - 07:55 PM

  • Steady after closing up 1.2%, as popular long USD positions took profit

  • Soft U.S. data fuelled growth fears, Fed may trigger recession nL2N2XB2QN

  • EU exploring ways to use Russian oligarchs' frozen assets to rebuild Ukraine

  • EU to fast track EU membership and Ukraine political reforms nL2N2XB30H

  • Charts; momentum studies rise, 5, 10 and 21 day moving averages conflict

  • 21 day Bolli bands contract - neutral setup but key resistance was broken

  • Close above 1.0547 21 day moving average ends the downside bias

  • Targets a test of the falling 1.0735 upper 21 day Bollinger band

    For more click on FXBUZ


eur May 20 Click here

Source:
Refinitiv IFR Research/Market Commentary

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