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May 19 - 08:55 PM

EUR/USD - Key Resistance Capped - EU/UK, French/German Deals

By Andrew Spencer  —  May 19 - 07:43 PM

• Off 0.05% after closing up 0.7% with the USD down 0.6% on the U.S. downgrade

• Trump says Russia and Ukraine to start 'immediate' talks on ceasefire

• EU/UK announced a trade and defence reset in 'new era'for relations

• Berlin and Paris overcome the rift over nuclear energy - French official

• Charts- 21-day Bollinger bands contract, 10 & 21-day moving averages slip

• Daily momentum studies base/rise - daily charts show no strong bias

• Friday's 1.1131 low, then 1.1053 0.618% Mar/Apr rise are initial supports

• 1.1283 21 DMA and the 1.1380 May top, are the first resistance

• A close above the tested 1.1283 21-day moving average would be bullish

• 1.1195/00 2.981 BLN and 1.1240/50 2.910 BLN close May 20th strikes
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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