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Jan 28 - 07:55 PM

EUR/USD - Steady After Opening Lower - Eur/Jpy May Lead

By Andrew Spencer  —  Jan 28 - 06:28 PM

• Steady after closing off 0.55% with the USD up 0.5% on Trump tariff threats

• Lunar New Year into the FOMC suggests tight ranges in a holiday-hit Asia

• Japan, Australia are the only major centres open - EUR/JPY flows may be key

• Germany in deep economic crisis, GDP to shrink for a third year - BDI

• The Eurozone and the Euro needs a prosperous Germany in these troubled times

• Charts - neutral daily momentum studies, expanding 21-day Bolli bands

• 5, 10 & 21-DMAs rise, neutral weekly moving averages - modest topside bias

• Targets a test of the 1.0535 December range top and 1.0630 December high

• Jan 23rd 1.0372 base is pivotal support, then the 1.0266 Jab 20th low

• 1.0400 1.062 BLN, 1.0425/30 1.507 BLN, 1.0450 816mln close Jan 29th strikes
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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