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May 13 - 08:55 PM

EUR/USD - Setup Suggests Consolidation, While Strikes Cap

By Andrew M Spencer  —  May 13 - 07:05 PM

  • Steady after closing +0.1%, as Wall Street bounced and UST yields slipped

  • Solution to EU/US disputes on aircraft, metals within reach nL1N2N027P

  • Biden's administration has improved chances of compromise with the EU

  • Charts; Wednesday's dip turned the daily signals from bullish to neutral

  • Momentum studies head lower, while 5, 10 & 21 DMAs conflict, little bias

  • 21 day Bolli bands contract - suggests a period of consolidation

  • Contracting 1.1972-1.2166 21 day Bolli bands likely define the range

  • 1.2051 London low supports and 507M 1.2100 strikes first resistance


    For more click on FXBUZ


eur may 14 Click here

Source:
Refinitiv IFR Research/Market Commentary

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