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Nov 02 - 09:55 PM

EUR/USD - Bearish Outside Day As USD Jumps - 0.9632 Beckons

By Andrew M Spencer  —  Nov 02 - 08:00 PM

  • Shade softer after closing -0.6% with a bearish outside day on USD strength

  • ECB's De Cos - will need more rate hikes to fight off inflation nS0N2Y700B

  • Interest rate decisions guided by inflation, growth and data - dour outlook

  • Charts; momentum studies, 5, 10 & 21 day moving averages crest or fall

  • 21 day Bollinger bands ease - regular daily charts show a neutral setup

  • Rejected Ichimoku cloud top - close below 98.26 daily cloud base is bearish

  • Cloud top capped on the close since Feb 2022 - targets 0.9632 October base

  • 0.9800 1.018 BLN, 0.9820/25 1.004 BLN and 0.9900 862 mln close strikes

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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