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EURUSD TECHS

Topping 50-day EMA

EQUITIES

J&J Drags on Dow, DJIA Underperforms

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  • RES 3: 100.00 - Psychological round number
  • RES 2: 99.860 - All time High Nov 3 and the bull trigger
  • RES 1: 99.840 - Nov 23/24 high
  • PRICE: 99.646 @ 16:38 GMT Mar 8
  • SUP 1: 99.641 - 1.0% Lower Bollinger Band
  • SUP 2: 99.585 - Low Mar 5
  • SUP 3: 99.552 - 38.2% 2020 Rally

The recent slip to new cycle lows last week has tilted the outlook from bad to worse, after new cycle and 2021 lows of 99.585. This further cements the negative outlook, raising the risk of a more protracted downturn after prices slipped through 99.736 Fib support. To the upside, a break of 99.835, Dec 23 high would trigger gains and set the scene for a climb towards 99.840, Nov 23/24 high.