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May 28 - 01:55 AM

EUR/USD - Positive Signals At Range Highs, Risk Appetite Leads

By Andrew M Spencer  —  May 27 - 11:45 PM
  • +0.15% at the top of a 1.0855-1.0877 range with the USD off 0.1%

  • Firmer commodities and e-minis are behind the positive sentiment

  • There is no tier-one EZ data, so risk appetite/USD likely lead the Euro

  • Charts - positive momentum studies, as 21-day Bollinger bands rise

  • Positive 5, 10, and 21-day moving averages - a modest topside bias

  • A close below the 1.0802 21-day moving average would be a bearish signal

  • 1.0802 21-DMA and last week's 1.0884 top are initial support/resistance

  • 1.0860 693 mln and 1.0870/75 1.051 BLN are the close strikes for May 28th

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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