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Oct 26 - 09:55 PM

EUR/USD - Topside Break Gathers Steam Ahead Of The ECB

By Andrew M Spencer  —  Oct 26 - 08:25 PM

  • +0.15% after closing up 1.15% amid broad-based USD weakness

  • Yield spreads narrowed, 10yr Bund -6bp 2.115%, 10yr UST -10bp 4.009%

  • ECB expected to hike 75pts - FX response on the outlook nL8N31R4IX

  • Charts; momentum studies, 5, 10 & 21 day moving averages head north

  • 21 day Bollinger bands expand - signals provide strong a positive setup

  • Sustained break of trend line resistance from Feb, now 0.9925 key support

  • Positive signals target a test of 1.0279, 38.2% of the 2022 fall

  • 1.0040 733 mln are the only strikes within 50 pts

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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