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Jan 20 - 01:55 AM

EUR/USD - Firm Start Into A Potentially Turbulent Week

By Andrew Spencer  —  Jan 19 - 10:09 PM

• Up 0.2% in a 1.0266-1.0292 range, with the USD off 0.1%, Asian stocks higher

• ECB should debate how much more and how quickly it can cut rates - Schnabel

• German PPI, Eurogroup meeting today - focus on Trump's busy inauguration

• Trump is expected to take more than 200 executive actions today = volatility

• Charts - neutral daily momentum studies, 21-day Bollinger bands ease

• 5, 10 & 21-DMAs edge coil, weekly moving averages fall - downtrend survives

• Wednesday's 1.0354 top, then the 2025 1.0437 high are initial resistance

• 1.0195 0.618% of 2022/2023 rise then 1.0177 2025 base are first supports

• Bulls need a close above the 1.0437 2025 high on Jan 6th to get excited

• 1.0250 657 mln and 1.0300 2.255 BLN are the close strikes for Jan 20th
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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