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Jul 31 - 10:55 PM

EUR/USD - Range Trades Short Term, Overall Bias Still Lower

By Andrew M Spencer  —  Jul 31 - 08:35 PM

  • Steady after early dip - U.S. dollar resilient to 0.45% E-mini S&P dip

  • EZ economic growth beat expectations, but outlook still subdued nL8N2ZA3TF

  • Political manoeuvring continues into September Italian election nL8N2ZA6XJ

  • Charts, 5, 10 & 21 day moving averages coil, momentum studies climb

  • 21 day Bollinger bands contract - neutral setup suggests range trading

  • 1.0279 late July top and 1.0076, 61.8% July bounce are the pivotal levels

  • Primary trend still down - 5, 10 & 21 week MA's plus 21 week Bolli's slide

  • 1.0200/10 861 MLN and 1.0250 649 MLN are today's close strikes

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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