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Oct 04 - 09:55 PM

EUR/USD - Trend Remains Lower - Energy Prices Key For Economy

By Andrew M Spencer  —  Oct 04 - 08:50 PM

  • Steady after closing up 0.25%, as profits were booked on USD longs

  • EZ ministers believe current inflation surge is transitory nB5N2N803K

  • Energy key to inflation - oil, Nord Stream 2 key to energy nL1N2R0222

  • Prolonged high energy prices and thus inflation pivotal for ECB and growth

  • Charts- mixed momentum studies, 5, 10 & 21 day and week moving averages fall

  • 21 day Bolli bands slide - bearish signals build while 1.1653 10 DMA caps

  • September 1.1563 trend low initial support, then 1.1492, 50% 2020-21 rise

  • 1.1600 505 MLN and 1.1620/40 621 MLN are Tuesday's close strikes

For more click on FXBUZ


eur Oct 5 Click here

Source:
Refinitiv IFR Research/Market Commentary

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