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Jan 23 - 08:55 PM

EUR/USD - Bearish Outside Day Reinforces The Negative Setup

By Andrew M Spencer  —  Jan 23 - 06:35 PM
  • +0.05% after closing off 0.3% - bearish outside day - U.S. dollar up 0.2%

  • Euro soft despite tighter spreads 10yr bund +9bp 2.34%, 10yr UST +4bp 4.132%

  • European markets are cautious ahead of the ECB rate decision on Thursday

  • Charts; daily momentum studies and 21-day Bollinger bands head lower

  • 5, 10 & 21-day moving averages slide - a negative setup on the daily charts

  • The next significant support is 1.0793 50% of the October/December rise

  • 1.0900 10-DMA then the early Europe 1.0916 high are first resistance

  • 1.0900 2.167 BLN are the only close significant strikes for Jan 24th

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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