Free Trial

Bears Need Close Below Php52.381...>

DOLLAR-PHP TECHS
DOLLAR-PHP TECHS: Bears Need Close Below Php52.381
*RES 4: Php53.071 - High July 3 2006 
*RES 3: Php52.940 - High July 25 2006 
*RES 2: Php52.843 - Bollinger band top 
*RES 1: Php52.771 - 2018 High May 29
*PRICE: Php52.651 @ 2300GMT
*SUP 1: Php52.381 - Low May 28 
*SUP 2: Php52.126 - 55-DMA 
*SUP 3: Php52.056 - High May 10 now support 
*SUP 4: Php51.933 - Daily Bull channel base
*COMMENTARY: Support emerging on dips back towards the 21 & 55-DMAs has resulted
in fresh 2018 & nearly 12yr highs although follow through has been lacking
courtesy of the Bollinger band top. Bulls focus on Php53.940-53.071 last seen in
July 2006. Initial support is noted at Php52.381 with bears needing a close
below to gain breathing room and target a correction back to Php51.715-126 where
the 5 & 100-DMAs and daily bull channel base are found.

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' }); });