Slobodan Drvenica
Windsor Brokers
The Euro holds steady in the US session and cracked psychological 1.17 barrier (also falling 30SMA) on probe above key barrier at 1.1676 (20SMA / converged daily Tenkan/Kijun-sen).
The single currency regained traction after hitting session low at 1.1628 in early European trading, boosted by slightly better than expected German Ifo data for June.
Bulls need close above daily 20SMA for initial bullish signal, confirmation of which would come on break and close above next pivot at 1.1718 (Fibo 61.8% of 1.1848/1.1508).
Bullish hourly / 4-hr studies support near-term action, as rising and thickening hourly cloud (spanned between 1.1640 and 1.1591) underpins.
Corrective dips should be contained by hourly cloud top while extension below cloud would be bearish.
Res: 1.1701; 1.1718; 1.1767; 1.1800
Sup: 1.1676; 1.1660; 1.1640; 1.1591
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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