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Oct 08 - 08:55 PM

EUR/USD - Bounce Has Lost Momentum - Strikes Likely Contain

By Andrew M Spencer  —  Oct 08 - 06:55 PM
  • Touch firmer - closed little changed with an inside day - bounce stalled

  • EUR trades at familiar levels, with the USD and risk in the driving seat

  • 1.1700 226M, 1.1730 500M, 1.1740 1.1BN, 1.1795-1.1800 1.3BLN strikes contain

  • Charts; 5, 10 & 21 DMAs conflict, momentum studies flat line - neutral setup

  • Key levels are 1.1687, 61.8% Se-Oct bounce and 1.1813 50% Sep fall

  • 1.1768 NY high then 1.1782 early European top are first resistance

  • 1.1740 rising 5 DMA, a base this week and NY 1.1732 low initial support


    For more click on FXBUZ

eur oct 9 Click here

Source:
Refinitiv IFR Research/Market Commentary

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