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Bulls Look For Weekly Close.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bulls Look For Weekly Close Above 1.12
EURUSD mounted an impressive recovery off the intraday low of 1.1107 yesterday.
Dollar sales spilled over into Europe, rate briefly squeezed through 1.12 before
fading. Bulls look for a weekly close above here to bring down trendline
resistance off the Jan high & 55-dma into view at 1.1230/37. Further resistance
is located at 1.1263/65 from the May 13, May 1 highs. To reignite downside
momentum bears need to take out yesterday's low and the 1.11 level. Below here
would likely accelerate the move towards the May 18 2017 low at 1.1076, ahead of
trendline support off the Nov 7 2017 low at 1.1048.

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