Slobodan Drvenica
Windsor Brokers
The cross rallied to one-week high at 0.8912 after hawkish ECB minutes sparked fresh bullish acceleration.
Rally dented target at $0.8910 (falling 100SMA) which guards pivotal barriers at 0.8924 (Fibo 38.2% of 0.9306/0.8689 descend/the highest in 2018). Break here would spark further retracement of 0.9306/0.8689 fall and expose targets at 0.8981 (28 Nov high) and 0.8997 (50% retracement). Fresh bullish sentiment of hawkish ECB and continuous rise in US jobless claims could support the single currency for further advance, as techs on daily chart are entering full bullish setup. Broken thin daily cloud (spanned between 0.8882 and 0.8870) should ideally contain and keep the downside protected.
Res: 0.8912; 0.8924; 0.8981; 0.8997
Sup: 0.8882; 0.8870; 0.8853; 0.8808
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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