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Dec 04 - 07:55 PM

EUR/USD - Muted Response To French Turmoil, Large Close Strikes

By Andrew M Spencer  —  Dec 04 - 06:10 PM
  • +0.05% after closing unchanged with the U.S. dollar also steady

  • French lawmakers passed a no-confidence vote against the government

  • ECB's President Lagarde cautious on the medium-term EZ economic outlook

  • Charts - daily momentum studies edge higher as 21-day Bolli bands contract

  • 5, 10 & 21-DMAs coil, weekly moving averages fall - a modest bearish setup

  • 1.0561 21 DMA then the 1.0610 recent range top is pivotal resistance

  • Last week's 1.0425 base and the November 1.0331 low are initial supports

  • 1.0500 1.198BLN 1.0505 650 mln and 1.0525 1.140BLN strikes for December 5th

    For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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