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Sep 11 - 08:55 PM

EUR/USD - Steady Into The ECB - Outlook Key - Huge Strikes

By Andrew M Spencer  —  Sep 11 - 08:05 PM
  • Steady after closing off 0.1% with the U.S. dollar up 0.1%

  • Largest German industrial union ready to strike as pay talks start

  • As the German economy slows, industrial unrest would be bad news

  • ECB leads event risk, 25pt cut to 3.5% priced - outlook pivotal for EUR

  • Charts; daily momentum studies slip, 21-day Bollinger bands flat-line

  • 5, 10 & 21-day moving averages conflict - mixed signals show little bias

  • Bearish outside day, close below 1.0996, 0.382% of Jun/Aug rise ends uptrend

  • Wednesday's 1.1054 top, then Monday's 1.1090 high are initial resistance

  • 1.1000 4.441BLN, 1.1025 1.341BLN, 1.1030 1.606BLN, 1.1050 3.281BLN strikes

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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