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Jan 19 - 08:36 PM

EUR/USD - Bearish Setup Just Above Key Support - Strikes Cap

Published on Jan 19 - 07:05 PM
  • Touch firmer, after a low key weekend for market moving news

  • Only mover is oil up 1.6% on Libyan supply threats nL8N29O058

  • Disparate outlook for EU and US growth weighed on Friday nL1N29M11G

  • Charts show momentum studies, 5, 10 & 21 DMAs edging lower - negative setup

  • Huge support ay 1.1080/85, 61.8% of the Nov-Dec bounce and Jan double bottom

  • Sustained 1.1080 break a bearish signal, next stop 1.1042 76.4% Nov-Dec rise

  • 1.1100/05 1.5BLN strikes cap and are a potential magnet in Asia

eur jan 20 Click here

Source:
Refinitiv IFR Research/Market Commentary

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