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Refinitiv
Nov 10 - 08:36 PM
EUR/USD - Spanish Gridlock - Heavy, Next Stop 1.0975/95
First appeared on eFXplus on Nov 10 - 07:20 PM
  • Flat after opening a touch higher and closing off 0.3% on Friday

  • Swing to far right and gridlock in Spanish election weighs nL8N27Q04P

  • German coalition parties avert crisis with pension deal nL8N27Q0FX

  • Charts - momentum studies, 5, 10 & 21 DMAs head south - negative setup

  • Initial target is 1.0994, 61.8% Oct bounce, then 1.0976 cloud base

  • Close above 1.1060 Kijun line and 1.1064 cloud top would end bearish bias

  • NY 1.1016/1.1037 range is initial support/resistance

eur nov 11 Click here

Source:
Refinitiv IFR Research/Market Commentary

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