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Dec 09 - 01:55 AM

EUR/USD - Soft In Asia - Charts Flag A Potential Breakout

By Andrew M Spencer  —  Dec 08 - 10:10 PM
  • Off 0.1% in a 1.0551-1.0569 range with the USD 0.1% firmer

  • Trump calls for immediate Ukraine ceasefire, Kyiv and Moscow cite conditions

  • It will be interesting to see if Trump can orchestrate a compromise

  • 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 is now pivotal resistance

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

  • 1.0540 525m, 1.0550 429mln, 1.0590 518mln, & 1.0600 1.207BLN Dec 12 strikes

For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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