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Nov 12 - 09:55 PM

EUR/USD - Range Trades, As The Inflation Fight Continues

By Andrew M Spencer  —  Nov 12 - 07:50 PM
  • Steady after closing up 0.15% on Friday with the US dollar down just 0.1%

  • Hawkish ECB President Lagarde - inflation could tick up in coming months

  • ECB, Federal Reserve, and BoE, cautious on inflation - will be data-driven

  • Charts - mixed momentum studies, 5, 10 & 21-day moving averages conflict

  • 21-day Bollinger bands head higher - a modest positive setup

  • Neutral setup - 1.0764 38.2% 2023 fall in July and October is key resistance

  • Close below 1.0623 21 DMA and 1.0608 61.8% of the Nov rise would be bearish

  • 1.0700 636 mln are the only strikes within 50pts for Nov 13

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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