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Jan 29 - 07:55 PM

EUR/USD - ECB Statement And Press Conference Key For Markets

By Andrew Spencer  —  Jan 29 - 06:47 PM

• Steady after a third lower daily close - down 0.1% with the USD up 0.05%

• Gloomy German Gov't economic forecasts, and German consumer sentiment

• A fully functioning German government needed to reverse the negative outlook

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

• Charts - neutral daily momentum studies, expanding 21-day Bollinger bands

• 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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