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Aug 22 - 09:55 PM

EUR/USD - Downtrend Remains In Play Despite Friday's Bounce

By Andrew M Spencer  —  Aug 22 - 08:39 PM

  • Flat after closing +0.2%, but -0.8% for the week, as safe haven USD weighs

  • As the German election approaches polls show a tight race nL8N2PS0HM

  • ECB still more worried about inflation being too low - Schnabel nL1N2PS04R

  • Charts; 5, 10 & 21 daily moving averages ease, 21 day Bolli bands expand

  • Negative technical trending setup - downside bias while 1.1779 21 DMA caps

  • Targets a test of 1.1602 September and November 2020 range base

  • 1.1647 lower 21 day Bollinger band, a base on this move supports

  • 1.1738 trend line from 1.1899 August high is initial resistance

    For more click on FXBUZ


eur aug 23 Click here

Source:
Refinitiv IFR Research/Market Commentary

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