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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.
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Free AccessBearish engulfing: *RES 4:........>
EURO-DOLLAR TECHS: Bearish engulfing:
*RES 4: 1.1191 High Aug 14
*RES 3: 1.1164 High Aug 26
*RES 2: 1.1141/42 2% Upper Bollinger Band / 1.0% 10-dma envelope
*RES 1: 1.1109 High Sep 12
*PRICE: 1.1011 @ 04:06 GMT Sep 17
*SUP 1: 1.0994 Low Sep 16
*SUP 2: 1.0927/26 Low Sep 12 and Sep 3
*SUP 3: 1.0914 3.0% Lower Bollinger Band
*SUP 4: 1.0862 76.4% retracement of Jan 2017 - Feb 2018 rally
EURUSD has faltered at the bull channel resistance drawn off the Jun 25 high,
trading on the backfoot once again. Friday's price action in candle terms was a
shooting star (inverted hammer), an early warning of a top. Yesterday's pattern
is a bearish engulfing reversal and reinforces recent bearish developments.
Monday's sell-off refocuses attention on the post-ECB lows at 1.0927. To
reinstate a bullish outlook, a break of Friday's 1.1109 high is required.
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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.