Trial now
GBPUSD TECHS

Approaching Key Resistance

FED

Reverse Repo Operations, Moderating

US TSY OPTIONS

Broken Midcurve Call Fly

COMMODITIES

Oil Benchmarks Shrug Off Tanker Seizure Off UAE Coast

EURUSD TECHS

Approaching The 50-Day EMA

All Eyes Remain On Key Support

EURO-DOLLAR TECHS
  • RES 4: 1.1996 High May 14, 2018
  • RES 3: 1.1978 1.236 proj of May 7 - Jun 10 rally from Jun 19 low
  • RES 2: 1.1966 Cycle high Aug 18
  • RES 1: 1.1929 Intraday high
  • PRICE: 1.1905 @ 05:42 BST Aug 31
  • SUP 1: 1.1754 Low Aug 21 and a key support
  • SUP 2: 1.1711 Low Aug 12 and the bear trigger
  • SUP 3: 1.1696 Low Aug 3
  • SUP 4: 1.1673 Trendline support drawn off the May 14 low

EURUSD ended last week on a firmer note confirming a print above Thursday's high of 1.1901 to trade outside of that day's volatile range. Despite current gains however, attention is still on a potential reversal threat. A bearish engulfing candle pattern on Aug 19, signals a top in the trend. A breach of key resistance at 1.1966, Aug 18 high is required to negate this threat and instead resume the bull trend. Key support to watch is 1.1754/11.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com