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Oct 13 - 07:55 PM

EUR/USD - Bullish Outside Day, As Risk Appetite Rebounded

By Andrew M Spencer  —  Oct 13 - 06:30 PM

  • -0.1% after closing up 0.8% after a day when short risk positions unwound

  • 'Sell the rumour buy the fact' response to strong U.S. CPI as stocks bounced

  • ECB staff believe the market is over pricing ECB rate hikes nL4N31E2EA

  • Euro strong despite yield spreads, 10yr bund -4bp 2.30%, 10yr UST +6bp 3.950

  • Bullish outside day left positive momentum studies, 5, 10 & 21 DMAs conflict

  • 21 day Bollinger bands contract - Thursday's bearish signals are now neutral

  • Volatile 0.9632-0.9806 NY range is initial support and resistance

  • 0.9750 501mln, 0.9790 567 mln and 0.9800 1.118BLN are Friday's close strikes

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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