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Dec 05 - 07:55 PM

EUR/USD - Steady After The Bounce As Shorts Covered Into US Jobs

By Andrew M Spencer  —  Dec 05 - 06:35 PM
  • Steady after closing up 0.75%, pushing the USD to close 0.6% lower

  • French bonds, and stocks took a breather after the government collapse

  • Macron to appoint a new prime minister soon - uncertainty reigns

  • EUR shorts covered into the often volatile U.S. jobs data

  • ECB to cut rates by 25 bps on Dec 12 - four more likely in 2025

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

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

  • The 1.0610 recent range top is the pivotal resistance for next week

  • This 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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