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Jul 09 - 10:55 PM

EUR/USD - Topside Failure, Trend And An EU Budget Deal Elusive

By Andrew M Spencer  —  Jul 09 - 08:50 PM
  • Flat after closing off 0.4%, leaving a fresh range top at 1.1371

  • We need a recovery fund, but with reforms, Dutch PM says nS8N2CH06H

  • EU continue to work slowly towards a coronavirus hit, EU budget deal

  • Charts; momentum studies, 5, 10 & 21 DMAs conflict - neutral setup

  • 1.1333 upper 21 day Bollinger band broken, but held on close as risk soured

  • 21 day Bollinger bands are a good indicator of an over stretched market

  • 1.1181 lower 21 day Bolli and 1.1157, 38.2% April-June rise, range base

  • 1.1257 21 DMA and 1.1300-10 667M strikes are initial support-resistance

  • For more click on FXBUZ

eur jul 10 Click here

Source:
Refinitiv IFR Research/Market Commentary

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