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May 16 - 08:55 PM

EUR/USD - Uptrend Remains Intact - Huge 1.0850 Strikes

By Andrew M Spencer  —  May 16 - 07:40 PM
  • Steady after closing down 0.15% with the USD up 0.25% with UST yields

  • Yield spreads closed steady with both 10yr bund and 10yr UST yields up 2bp

  • ECB's Centeno is confident inflation is easing, no word on a June decision

  • Charts - mixed momentum studies, 5, 10, and 21-day moving averages climb

  • 21-day Bollinger bands rise - daily charts maintain the positive setup

  • Targets 1.0898 0.786% of the March/April fall, then the 1.0980 March high

  • New York's 1.0854 low, then the 1.0805 10 DMA are initial supports

  • 1.0850 3.058 BLN and 1.0875 1.187 BLN close major strikes for May 16th

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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