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May 15 - 09:55 PM

EUR/USD - Soft Early, But Higher E-Mini S&P Likely Caps USD

By Andrew M Spencer  —  May 15 - 08:05 PM

  • -0.1% as the USD firms early, but E-mini S&P is up 0.5%, should cap the USD

  • No sign of a compromise in the Ukraine-Russia conflict nL5N2X700R

  • Finland and Sweden edge towards joining NATO defence alliance nL2N2X70EB

  • Sustained euro strength unlikely until there is hope of a Ukraine compromise

  • Charts; daily momentum studies, 5, 10 and 21 day moving averages slide

  • 21 day Bolli bands fall, bearish setup suggests a break of 1.0340 2017 low

  • Close above 1.0597 21 DMA to end the downside bias - no close option strikes

  • 1.0349 NY low and 1.0460, 38.2% May fall initial support, resistance

For more click on FXBUZ



eur May 16 Click here

Source:
Refinitiv IFR Research/Market Commentary

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