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Jan 16 - 07:55 AM

EUR/USD - Sinks And Now It Should Bounce

By Jeremy Boulton  —  Jan 16 - 05:50 AM
  • ZEW economic sentiment rises 15.2 in Jan from 12.8 - beats 12.0 f/c

  • EUR/USD sinks to 1.0884 from Jan 16 high at 1.0948 EBS

  • Pair has dropped below base 20-day Bollinger Bands at 1.0911

  • 55-DMA 1.0885, 200-DMA 1.0848, top daily cloud 1.0845

  • Daily cloud to thick and rise potentially supporting a rally

  • The 55-DMA recently crossed over 200-DMA - Golden Cross buy signal

  • Dollar won't go down easily but it should drop nL8N3E62CE

Source:
Refinitiv IFR Research/Market Commentary

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