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Dec 08 - 08:55 PM

EUR/USD - Steady Early Into A Big Week - 1.0668 Key Resistance

By Andrew M Spencer  —  Dec 08 - 06:40 PM
  • Steady in early Asia after closing off 0.2% with the U.S. dollar up 0.2%

  • Trump calls for immediate Ukraine ceasefire, Kyiv and Moscow cite conditions

  • Eurozone productivity growth remained weak in Q3, and will likely continue

  • ECB will cut 25bp to 3% Thursday - statement, press conference tone is key

  • Charts - daily momentum studies climb as 21-day Bollinger bands contract

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

  • Daily technical signals converge, which often precedes a breakout

  • 1.0668. 0.382% of the Sep/Nov fall is now pivotal resistance

  • Last week's 1.0461 base and the November 1.0331 low are initial supports

  • 1.0550 946 mln, and 1.0600 1.237 BLN close strikes for December 6th

For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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