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Jan 28 - 07:55 PM

EUR/USD - Key Support Holds, But Setup Remains Negative

By Andrew M Spencer  —  Jan 28 - 06:36 PM
  • Flat - closed +0.1% with an inside day - month end flows significant today

  • EZ governments must keep spending to avoid fresh recession: ECB nL1N2K329P

  • ECB says banks key in getting euro zone past Covid crisis nF9N2IJ030

  • Control of COVID and the vaccine rollout key for 2021 EZ recovery

  • Charts; 10 & 21 daily moving averages plus momentum studies head lower

  • Bias lower, 1.2037/63, lower 21 day Bolli, 38.2% Nov-Jan rise big support

  • Close below 1.2050 would be a bearish signal, above 1.2173 21 DMA bullish

  • NY 1.2088-1.2142 range is initial support and resistance

For more click on FXBUZ


eur jan 29 Click here

Source:
Refinitiv IFR Research/Market Commentary

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