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Oct 16 - 08:55 PM

EUR/USD - Fresh Trend Lows Into The ECB Rate Decision

By Andrew M Spencer  —  Oct 16 - 07:30 PM
  • Trades off 0.03% after closing down 0.3% with the USD +0.25%, EUR/GBP +0.4%

  • Markets price in a 25pt ECB rate cut at today's meeting as inflation recedes

  • The tone of the Monetary Policy Statement will initially drive markets

  • ECB President Lagarde's comments at the press conference key to the outlook

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

  • 5, 10 & 21-day moving averages track lower, a negative trending setup

  • Wednesday's 1.0901 high, then this week's 1.0936 top are initial resistance

  • 1.0783, 0.786% of the Jun/Sep rise and 1.0777 August low first supports

  • There are no significant close strikes for October 17th

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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