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Free AccessBears Reconfirm Dominance *RES....>
EURO-DOLLAR TECHS: Bears Reconfirm Dominance
*RES 4: $1.1800 Hourly support Oct 25 now resistance
*RES 3: $1.1785 Hourly resistance Oct 26
*RES 2: $1.1725 Low Oct 23 now resistance
*RES 1: $1.1690 Hourly support Oct 26 now resistance
*PRICE: $1.1648 @ 1930GMT
*SUP 1: $1.1611 Low July 26
*SUP 2: $1.1583 High July 18 now support
*SUP 3: $1.1538 Daily bear channel base
*SUP 4: $1.1478 Low July 20
*COMMENTARY: The marginal break of the bear channel top remained capped by the
55-DMA ($1.1838) and ahead of the key $1.1880 resistance. The sharp sell-off
leaves the pair looking heavy with the close below the 100-DMA ($1.1673) seeing
bearish focus shift to $1.1478-1.1583 where the daily bear channel base is
found. Layers of resistance add weight to the bearish case with bulls now
needing a close above $1.1725 to ease bearish pressure.
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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.