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Jan 30 - 01:55 AM

EUR/USD - ECB Statement, Press Conference Tone To Lead Markets

By Andrew Spencer  —  Jan 29 - 10:04 PM

• Flat supported by yen strength, EUR/JPY -0.4% on tighter yield spread hopes

• Risk on in Asia, E-minis S&P +0.4%, Nasdaq E-mini +0.6% into Apple results

• ECB fully priced to cut 25pt today - Statement, Press Conference key for EUR

• Markets expect a dovish cut as weak EZ growth overcomes inflation fears

• Charts - daily momentum studies conflict, 21-day Bollinger bands expand

• 5, 10 & 21-DMAs rise, neutral weekly moving averages - modest topside bias

• Targets a break of the 1.0535 December range top and test 1.0630 Dec high

Close below Jan 23rd 1.0372 base and 1.0357 21 DMA ends the topside bias

• 1.0400/05 2.323 BLN, 1.0425/40 2.194 BLN close Jan 30th strikes
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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