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May 18 - 08:55 PM

EUR/USD - 1.2243 February High In View And Vulnerable

By Andrew M Spencer  —  May 18 - 07:10 PM

  • Flat after closing up 0.6% - leading the USD lower verses the majors

  • Optimism on the European economic recovery grows - ECB supports nL2N2N51J3

  • EU lawmakers give final approval to green transition fund nL3N2N53DS

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

  • 21 day Bollinger bands expand - setup suggests further topside gains

  • 1.2234 NY high then 1.2243 February top are first resistance

  • NY 1.2197 low and yesterday's 1.2153 Asian low initial support

  • 498M 1.2200, 408M 1.2170 and 1.726 BLN 1.2150 strikes support


    For more click on FXBUZ


eur may 19 Click here

Source:
Refinitiv IFR Research/Market Commentary

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