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Aug 27 - 08:55 PM

EUR/USD - Uptrend Stalled As Cross Flows Cap - Positive Setup

By Andrew M Spencer  —  Aug 27 - 07:35 PM
  • Steady early after closing up 0.2%, with the US dollar off 0.3%

  • Hawkish weekend BOE comments saw EUR/GBP off 0.4%, capping EUR/USD

  • The outlook for the German economy and consumer sentiment remains weak

  • Charts; neutral daily momentum studies, 21-day Bollinger bands rise

  • 5, 10 & 21-day & week moving averages climb - signals remain bullish

  • 1.1120 10-day moving average and Thursday's 1.1098 low are key supports

  • Targets major resistance at 1.1271, 0.618% of the 2021-2022 fall

  • 1.1175 988 mln and 1.1200 1.483BLN are the close strikes for August 28th

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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