Free Trial

Bears Need Close Below Bull........>

DOLLAR-PHP TECHS
DOLLAR-PHP TECHS: Bears Need Close Below Bull Channel Base
*RES 4: Php52.847 - Daily Bull channel top 
*RES 3: Php52.560 - Low July 18 2006 now resistance 
*RES 2: Php52.501 - 2018 High Feb 19 
*RES 1: Php52.176 - High Feb 22
*PRICE: Php51.800 @ 2300GMT
*SUP 1: Php51.748 - Daily Bull channel base off 2018 low 
*SUP 2: Php51.400 - Low Feb 9 
*SUP 3: Php51.030 - Low Feb 7 
*SUP 4: Php50.948 - 100-DMA
*COMMENTARY: The correction lower from 2018 and 11+yr highs sees dips below the
21-DMA (Php51.786) as it finds support around the daily bull channel base off
2018 lows. Bears look for a close below the channel base to hint at a move back
to Php50.607-51.030 where key DMAs are clustered and below Php51.400 to confirm.
Bulls now need a close above Php51.176 to reconfirm focus on the 2018 high and
then the bull channel top.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
}); window.REBELMOUSE_ACTIVE_TASKS_QUEUE.push(function(){ window.dataLayer.push({ 'event' : 'logedout', 'loggedOut' : 'loggedOut' }); });