Free Trial

Attention Remains 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: 1.1883 High Aug 21
  • PRICE: 1.1827 @ 16:22 BST Aug 25
  • SUP 1: 1.1754 Low Aug 21
  • SUP 2: 1.1711 Low Aug 12 and the bear trigger
  • SUP 3: 1.1696 Low Aug 3 and a key support
  • SUP 4: 1.1639 Low Jul 27 May 14 low

EURUSD traded slightly firmer ahead of the Tuesday close, holding above recent lows. A bearish threat remains intact following last week's price action. The price pattern on Aug 19 is a bearish engulfing candle that signals a top in the trend. This set-up is reinforced by a bearish divergence condition between price and momentum. Attention is on the key support at 1.1711, Aug 12 low. Initial resistance is at 1.1883, Friday's high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@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.