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Bearish Breakout Soft French &....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bearish Breakout
Soft French & German PMI readings further pressured the euro, breaking below the
base of the symmetrical triangle to 1.1287. Daily momentum indicators are
generating bearish signals with next support at 1.1267 from the Nov 28 low,
below here opens the ytd low at 1.1216. Bulls need to clear the 50% retracement
level & down trendline resistance at 1.1415/18 to change the short-term outlook.
Above here opens the key 1.1450 resistance area, ahead of the 100-dma & Nov 7
high 1.1497/00.

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