EURUSD – close in the cloud to generate bearish signal
The Euro probed into daily cloud in extension of easing from Asian high at 1.1876. Violation of significant support at 1.1833, provided by cloud top, requires close within the cloud for bearish signal.
Bearish extension would expose strong support zone at 1.1805 (Fibo 38.2% of 1.1553/1.1961 ascend) and 1.1794 (converged 20/100SMA, creating bull-cross).
Hesitation to clearly break into cloud could result in extended consolidation between cloud top and broken 10SMA (1.1868).
Only lift and close above 10SMa would sideline immediate downside risk and signal formation of higher base at 1.1810 zone (30 Nov / 5 Dec lows).
Res: 1.1868; 1.1900; 1.1928; 1.1940
Sup: 1.1812; 1.1805; 1.1794; 1.1757