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Jan 06 - 08:55 AM

EUR/USD - Scales Greater Heights But Cause For Caution

By Jeremy Boulton  —  Jan 06 - 05:40 AM
  • EUR/USD rally reaches 1.2346 highest since 1.2353 on Apr 20 2018

  • Pair dips slightly after exceeding 20-day Upper Bollinger at 1.2343

  • 30-day Upper Bollinger is 1.2372. April 19 2018 peak was 1.2400

  • Weight of EUR longs should now begin to tell on the uptrend nL1N2JH0MB

  • Fading strength over Bollingers to gain better average for longs may pay

  • EUR strength is showing up in data. French CPI fell to 0.0% yy

  • German state CPIs largely zero or below. Italy service PMI collapsed to 39.7

  • Eurozone service PMI sank to 46.4 in Dec. Final composite 49.1 from 49.8


EUR/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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