First appeared on eFXplus on Nov 19 - 02:00 AM
Bulls in control despite failing to record a close above daily channel top
Early Tues and another run above the shallow bear channel top at 1.2947
Need to see a close above resistance line to open up key 1.3012 Oct 21 peak
Weekly cloud breach holding but action is tight: 100-200WMAs overhead
Close back inside or below cloud bearish: cloud parameters 1.2886-1.2941
We stand aside for now but might minitor price on any test of 1.3012
Source:
Refinitiv IFR Research/Market Commentary