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Jun 03 - 01:55 AM

EUR/USD - Risk 'On' Ahead Of European Manufacturing PMIs

By Andrew M Spencer  —  Jun 02 - 11:50 PM
  • Up 0.05% in a 1.0846-1.0858 range with the U.S. dollar down just 0.1%

  • Risk 'on' in Asia - Nikkei +0.95%, AsiaxJP stocks +1.7%, e-mini S&P +0.25%

  • EZ and national manufacturing PMIs lead event risk in Europe - forecast 47.4

  • Charts - neutral momentum studies, as 21-day Bollinger bands climb

  • 5, 10, & 21-day moving averages conflict - signals show no significant bias

  • Thursday's 1.0788 low was the base last week and remains initial support

  • Last week's 1.0889 high capped Friday - now the first significant resistance

  • 1.0855/60 1.174 BLN and 1.0870 1.414 BLN are the close strikes for June 3rd

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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