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Dec 09 - 07:55 PM

EUR/USD - A Breakout Is Coming - The Primary Trend Is Lower

By Andrew M Spencer  —  Dec 09 - 06:35 PM
  • Steady after easing 0.1% with the USD +0.2%, supported by higher UST yields

  • VW, unions hold 'constructive' talks, but there is no solution in sight

  • Hard to be a Euro optimist with Paris, Berlin mired in political uncertainty

  • Charts - daily momentum studies climb as 21-day Bollinger bands contract

  • 5, 10 & 21-DMAs coil, weekly moving averages fall - a neutral setup

  • Daily technical signals converge, which often precedes a breakout

  • 1.0668 0.382% of the Sep/Nov fall remains pivotal resistance

  • Last week's 1.0461 base and the November 1.0331 low are initial supports

  • 1.0500 1.402BLN, 1.0550 650mln and 1.0600 2.299BlN Dec 10 close strikes

    For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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