Need to Close Above Down..........>

EURO-DOLLAR TECHS: Need to Close Above Down Trendline to End Bear Trend

Following Fed Chair Powell's yesterday, EURUSD continued to move higher at the

beginning of the European session and briefly traded above the down trendline

from Septembers highs which comes in at 1.1390. We need to close above here to

continue the upward momentum and to change change the focus to a more neutral,

rather than bearish, outlook. Above here lies the 50% retracement of

1.0341-1.2555 at 1.1448. This would return focus to the 50- and 100-dmas. To

move focus back to the downside, the Nov 13 ytd low/61.8% retracement from

0.8230-1.6038 at 1.1216/13 remains in play. A fall through here would open the

May 30 2017 low of 1.1110 as well as the 1.09 level.