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100-dma in sight With 1.1700......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: 100-dma in sight
With 1.1700 breached and a close above almost certain, bulls set their sights on
the 100-dma at 1.1762. The pair hasn't managed to break and close above this
level since December last year, which was followed by a rally of as much as 6%.
The rally continues to gain traction with an inverse head-and-shoulder formation
pointing to a potential move to 1.19. The July 31 high provides next resistance
at 1.1746. Bears need to see a close back below 1.16 to take the pressure off
and allow them to focus on the 1.15 area to shift momentum back toward the YTD
Aug 15 low of 1.1301.
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets

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