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May 17 - 08:55 PM

EUR/USD - Inflation Fears Resurface - Charts Are Positive

By Andrew M Spencer  —  May 17 - 07:05 PM

  • Steady after closing a touch firmer - no significant strikes today

  • EZ yields move higher on inflationary and ECB tightening fears nL2N2N40HP

  • Global markets are nervous that the economic recovery will fuel inflation

  • U.S.-EU metals talks avert a fresh tariff hike, existing remain nL5N2N42PT

  • Charts; neutral momentum studies, 5, 10 & 21 DMAs climb, positive setup

  • 21 day Bollinger bands rise - suggests the topside is again the weak one

  • 1.2188 upper 21 day Bolli band and 1.2196, 76.4% 2021 fall major resistance

  • 1.2135 NY low and yesterday's 1.2126 Asian low are initial support


    For more click on FXBUZ


eur may 18 Click here

Source:
Refinitiv IFR Research/Market Commentary

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