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Oct 06 - 09:55 PM

EUR/USD - Trend Extends - U.S. Jobs May Attract Profit Taking

By Andrew M Spencer  —  Oct 06 - 08:01 PM

  • Steady after closing down 0.35% on broad based safe haven USD strength

  • Balance between rising inflation, supply risk and COVID-19 key nL1N2R12RB

  • Uncertainty on the global recovery and inflation fuels safe-haven USD demand

  • Charts - momentum studies, 5, 10 & 21 day and week moving averages fall

  • 21 day Bolli bands slide - bearish signals build while 1.1619 10 DMA caps

  • Negative trending setup targets a test of 1.1492, 50% 2020-21 rise

  • 1.1525 448 MLN and 1.1590/00 6379 MLN are Thursday's close strikes

  • Chance of profit taking ahead of Friday's volatile U.S. payrolls

For more click on FXBUZ


eur Oct 7 Click here

Source:
Refinitiv IFR Research/Market Commentary

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