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May 20 - 02:36 AM

EUR/USD - Biggest Gain Since March Breaks 30-DMA, 200-DMA In View

By Martin Miller  —  May 19 - 02:20 AM
  • EUR/USD jumped 105 pips on Monday, the biggest daily gain since late March

  • It closed back above the 30-DMA, now at 1.0866, for first time since May 5

  • Scope for gains to 30-day upper bolli-band at 1.0972 and 200-DMA at 1.1016

  • Fourteen-day momentum has filpped back to positive = another bullish sign

  • We are looking to get long at long at 1.0865 near the 30-DMA

  • The 105 pip range was according to prices on the EBS

  • EUR/USD Trader TGM2334. Previous update nL1N2CX0E5

Daily Bollinger Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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