Free Trial

Bull Trend Resumes

EURO-DOLLAR TECHS
  • RES 4: 1.2000 Psychological round number
  • RES 3: 1.1996 High May 14, 2018
  • RES 2: 1.1978 1.236 proj of May 7 - Jun 10 rally from Jun 19 low
  • RES 1: 1.1966 Cycle high Aug 18
  • PRICE: 1.1929 @ 05:33 BST Aug 19
  • SUP 1: 1.1829 Low Aug 17
  • SUP 2: 1.1782 Low Aug 13 and 14
  • SUP 3: 1.1746 20-day EMA
  • SUP 4: 1.1696 Low Aug 3 and key support

EURUSD traded higher yesterday managing a print above the 1.1916 bull trigger, Aug 6 high and registered a fresh cycle high at 1.1966. This confirms a resumption of the underlying uptrend, paving the way for a climb towards the 1.1978 Fibonacci projection ahead of 1.2000. On the downside, August activity has so far defined a key support at 1.1696, Aug 3 low. A break is required to signal a short-term reversal.

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.