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Dec 13 - 11:55 PM

EUR/USD - Uptrend Remains In Play, As Brexit Goes To The Wire

By Andrew M Spencer  —  Dec 13 - 09:50 PM
  • +0.2%, softer USD with risk bid & Brexit deadline extension GBP strength

  • EUR/GBP -0.55% - hectic early on hopes of a Brexit deal nL1N2IT0P0

  • Large EUR, GBP purchases lift USD net short to 4-month high nL1N2IR2HB

  • Long positions could be a problem if Brexit ends with no deal

  • Charts; momentum studies base, 5, 10 & 21 daily weekly and monthly MAs climb

  • Trend stalled, but bullish setup targets another test of the 1.2177 Dec high

  • Close below 1.2113 well tested 10 DMA needed to undermine topside bias

  • Earlier 1.1210 low and Friday's early Europe 1.2163 high support-resistance

For more click on FXBUZ


eur 2 dec 14 Click here

Source:
Refinitiv IFR Research/Market Commentary

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