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May 18 - 05:00 AM

EUR/USD - Trend Line Support Holds, But Bias Remains Lower

By Andrew M Spencer  —  May 17 - 09:05 PM
  • Flat after recovering from 1.0802 early, as E-mini S&P +0.9%, saw USD soften

  • EU should temporarily ban Chinese takeovers - Germany's Weber nL8N2CY0M6

  • Charts - momentum studies, 5, 10 & 21 DMAs slip - modest negative setup

  • 1.0788 trend line support from the late March low tested and held on close

  • 1.0785 break would initially target 1.0748, lower 21 day Bollinger band

  • 21 day Bolli a good indicator of an over sold market, base March/April/May

  • Asian 1.0802-1.0823 range is initial support-resistance

  • 1.0750 204M, 1.0800 670M, 1.0845-50 450M close strikes

eur may 18 Click here

Source:
Refinitiv IFR Research/Market Commentary

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