Free Trial

1.1052 the support to watch:......>

EURO-DOLLAR TECHS
MNI (London)
EURO-DOLLAR TECHS: 1.1052 the support to watch:
*RES 4: 1.1286 High Jul 11
*RES 3: 1.1250 High Aug 06 and key resistance
*RES 2: 1.1198/1207 50-dma and 100-dma
*RES 1: 1.1175/80 Trendline resistance drawn off the Jun 25 high / Pivotal level
*PRICE: 1.1083 @ 03:47 GMT Aug 29
*SUP 1: 1.1052 Low Aug 23 and key intraday support
*SUP 2: 1.1027 Low Aug 1 and primary support
*SUP 3: 1.1000/0994 Psychological level / Channel base drawn off the Jan 10 high
*SUP 4: 1.0864 76.4% retracement of the Jan 2017 - Feb 2018 rally
EURUSD is still chipping away at the Friday rally. The upside argument however
remains intact with prices holding above support at 1.1052. Prices have moved
below the open of Friday's session, so support at 1.1052 needs to hold to
maintain the bullish engulfing candle pattern that was confirmed on Friday's
close. A failure would open 1.1027. The focus is on pivotal resistance at 1.1180
and the trendline resistance drawn off the Jun 25 high, at 1.1165.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.