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May 27 - 09:55 PM

EUR/USD - Close Strikes Contain, But Trend Is Still Higher

By Andrew M Spencer  —  May 27 - 07:39 PM

  • Touch softer after closing little changed in a tight range

  • EU extends talks looking for a farming subsidy revamp nL2N2NE28N

  • Farming subsidies are a third of the EU budget, so a deal is key

  • Charts; momentum studies crest, 5, 10 & 21 DMAs, 21 day Bolli's rise

  • Setup remains bullish while 1.2138 21 daily moving average holds

  • Longer term target is a test of the 1.2349 January and 2021 high

  • Early European 1.2189 - 1.2215 range is initial support resistance

  • 1.2185 513M and 1.615BLN 1.2200/10 strikes likely contain in Asia

For more click on FXBUZ


eur may 28 Click here

Source:
Refinitiv IFR Research/Market Commentary

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