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May 21 - 08:55 PM

EUR/USD - Uptrend Needs Progress Soon - UST Outlook Is Key

By Andrew M Spencer  —  May 21 - 07:50 PM
  • +0.05% after closing -0.05% with the U.S. dollar +0.05% in low-key trading

  • ECB President Lagarde is "really confident" inflation is under control

  • Bundesbank's Nagel believes after the June cut yields should be data-driven

  • EUR/USD remains resilient - ECB June cut priced - US rate outlook now key

  • Charts - momentum studies conflict, 10, and 21-day moving averages climb

  • 21-day Bollinger bands rise - uptrend stalled, but no longer overbought

  • 1.0898, 0.786% March/April fall break needed soon to sustain the uptrend

  • Friday's 1.0836 low, then the 1.0835 rising 10 DMA are initial supports

  • 1.0830 1.015 BLN - 1.0855/60 872mln May 21 strikes may contain in Asia

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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