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False Break Higher After..........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: False Break Higher
After closing above the 50% retracement from 1.0341-1.2555 at 1.1448 on Monday,
EURUSD failed to move higher Tuesday and at the time of writing had fallen back
below Friday's close and the 1.1400. A close below the handle would return the
focus back to the Nov 13 and ytd lows at 1.1216. For the bull trend to resume,
we need to again close above 1.1448 and challenge the Nov 7 high/50-dma at
1.1500/04. This would open the 100-dma at 1.1558. Bears need to retake the 1.14
level to return the focus back to the Nov 13 and ytd lows at 1.1216.

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