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Dec 03 - 07:55 PM

EUR/USD - Uptrend Marches Towards 1.2500, As The USD Slides

By Andrew M Spencer  —  Dec 03 - 06:00 PM
  • Flat after closing up 0.2%, as the strong USD downtrend extended

  • Stocks, commodities & 2021 outlook remain resilient, hitting safe haven USD

  • EU-UK trade deal hangs in the balance, with mixed signals nL8N2IJ1PD

  • Suggests that any deal will likely be 'bare bones' not comprehensive

  • Charts; momentum studies, daily & weekly 5, 10 & 21 MAs track north

  • Strong bullish setup targets the 1.2556 2018 high longer term

  • Close below 1.1992 10 DMA needed to undermine the topside bias

  • London 1.2101 low and NY 1.2174 high are initial support-resistance

For more click on FXBUZ


eur dec 4 Click here

Source:
Refinitiv IFR Research/Market Commentary

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