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Jan 17 - 01:55 AM

EUR/USD - Mixed Signals, As Markets Price The Second Trump Era

By Andrew Spencer  —  Jan 16 - 09:49 PM

• Trades up 0.05% in a tight 1.0299-1.0309 Asian range with the USD off 0.05%

• No tier-one EZ data - US building permits lead a second-tier US schedule

• Trump Treasury pick Bessent- Fed independence, USD, Russia oil sanctions key

• The Trump inauguration on Monday - the potential start of a new world order

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

• 5, 10 & 21-DMAs coil, weekly moving averages fall - downtrend has stalled

• Wednesday's 1.0354 top, then last week's 1.0437 high are initial resistance

• 1.0195 0.618% of 2022/2023 rise then Monday's 1.0177 base are first supports

• Bulls need a close above last week's 1.0437 high to get excited

• 1.0300 4.517 BLN Jan 17th strikes acted as a magnet in Asia
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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