By Andrew Spencer — Jan 19 - 09:56 PM
• +0.15% near the 1.2160-1.2190 Asian range top with moderate FX Matching flow
• Risk on in Asia with regional stocks up, despite soft e-mini S&P -0.1%
• Trump promises harsh immigration limits at his inauguration Eve rally
• There is no significant UK data today, so risk/USD to lead sterling
• Charts - daily momentum studies ease, 21-day Bollinger bands head lower
• 5, 10 & 21-DMAs slide - weeklies remain bearish - a strong negative setup
• Targets a test of last week's 1.2100 low then the 1.2038 Oct 2023 base
• Jan 10 1.2322 high, then the key 1.2392 21 DMA are first resistance
• A close above the 1.2392 21-DMA would be a positive signal
Andy
(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)
Source:
London Stock Exchange Group | Thomson Reuters