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Nov 16 - 08:55 PM

EUR/USD - Poised Above Potentially Resilient Long Term Support

By Andrew M Spencer  —  Nov 16 - 07:24 PM

  • Flat, after Tuesday's 0.4% loss, as dovish ECB weighs nL1N2S60WI

  • ECB outlook and COvID-19 surge lead EUR lower, as USD climbs nL4N2S72SI

  • Technicals - 5, 10 & 21 day and week moving averages track south

  • 21 day Bollinger bands expand, while daily momentum studies slide

  • Strong bearish trending signals target 1.1290, 61.8% of the 2020-2021 rise

  • Close below major 1.1290 support targets 1.1040, 76.4% 2020-21 climb

  • 1.1336 lower 21 day Bollinger band suggests EUR oversold short term

  • NY 1.1309-1.1375 range is initial support and resistance

For more click on FXBUZ


eur Nov 17 Click here

Source:
Refinitiv IFR Research/Market Commentary

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