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Oct 28 - 09:55 PM

EUR/USD - Downside Vulnerable Into U.S. Election - Strikes Cap

By Andrew M Spencer  —  Oct 28 - 08:05 PM
  • Flat after closing off 0.4% on broad based USD safe haven strength

  • USD to firm into the US election if negative correlation with risk holds

  • EU lockdowns as COVID-19 sweeps Europe trigger USD strength nL1N2HJ0QL

  • ECB to pave way for more stimulus as recession fears grow nL8N2HJ5JZ

  • 1.1700 483M, 1.1745/60 1.012BLN, 1.1775-85 804M, 1.1800/05 1.777BLN strikes

  • Charts; negative momentum studies, fresh bearish 5 & 10 DMA cross

  • Modest downside bias for a test of 1.1686/88 lower 21 day Bolli and Oct low

  • NY 1.1718-1.1760 range is initial support-resistance

For more click on FXBUZ


eur oct 29 Click here

Source:
Refinitiv IFR Research/Market Commentary

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