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Jan 12 - 08:55 PM

EUR/USD - Over Extended Short Term, But The Bias Is Higher

By Andrew M Spencer  —  Jan 12 - 06:45 PM

  • Steady after closing up 0.6%, as the USD lost ground across the board

  • USD a case of buy the rumour on inflation and Fed hikes, then sell the fact

  • Europe's gas crisis shows signs of improvement- prices elevated nL8N2TM3O1

  • Charts; 5, 10 & 21 day moving averages rise, 21 day Bollinger bands expand

  • Momentum studies rise - topside range break leaves a positive trending setup

  • Initially targets a test of 1.1498, 61.8% October-November fall

  • Upper 21 day Bolli band at 1.1425 suggests market short term overbought

  • Close below 1.1386 prior range high would undermine the topside bias

For more click on FXBUZ


eur jan 13 Click here

Source:
Refinitiv IFR Research/Market Commentary

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