Free Trial

Bearish Theme Intact For Now......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bearish Theme Intact For Now
*RES 4: 1.1140 High Nov 5
*RES 3: 1.1093 High Nov 6
*RES 2: 1.1073 Former double top midpoint
*RES 1: 1.1043 Nov 11 high
*PRICE: 1.1016 18:05 GMT Nov 14
*SUP 1: 1.0989 Intraday low
*SUP 2: 1.0967 Double top projection
*SUP 3: 1.0950 76.4% of Oct 1 - Oct 21 climb
*SUP 4: 1.0904 Oct 2 low
EURUSD maintains a weaker outlook despite the bounce off today's low. The
bearish bias follows the recent double top confirmation on Nov 5 when prices
traded through support at 1.1073, Oct 25 low. The double top is not a
significant reversal and at the very least is allowing a correction to unfold
following the reversal of the Oct 1- Oct 21 rally. The pattern projects a move
to 1.0967. Resistance is seen at 1.1073, the double top midpoint.

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.