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May 21 - 03:55 AM

EUR/USD - Set To Stretch The Envelope Ahead PMI Data

By Jeremy Boulton  —  May 21 - 02:16 AM
  • EUR/USD 1.2224-40 EBS range following 1.2169-1.2229 yesterday

  • Upper limit 20-day Bollingers is 1.2252, May high 1.2245

  • Next bull targets 1.2234, 1.2290 and 1.2347 (2021 peak 1.2349)

  • German PMI @ 8.30GMT composite f/c 57.1 from 55.8 due services expansion

  • German service sector PMI seen 52.0 in May from 49.9

  • EZ composite PMI at 9GMT composite seen 55.1 from 53.8

  • Centre Bollinger bands at 1.2117 should attract buyers


EURUSD daily Click here

Source:
Refinitiv IFR Research/Market Commentary

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