Free Trial

Bull trigger at 1.1286: *RES 4:...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bull trigger at 1.1286:
*RES 4: 1.1371 High Jul 1
*RES 3: 1.1317/44 200-dma / Low Jun 25
*RES 2: 1.1302 50% retracement of the Jun 25-Jul 9 sell-off
*RES 1: 1.1286/88 High Jul 11 and Jul 5 / Bull trigger
*PRICE: 1.1258 @ 08:21 GMT July 19
*SUP 1: 1.1241 Intraday low
*SUP 2: 1.1200 Low Jul 17
*SUP 3: 1.1193 Low Jul 9 and key support
*SUP 4: 1.1181 Jun 18 low
EURUSD remains in a consolidation phase, trading either side of 1.1250. The
engulfing candle pattern of Jul 10 remains valid as a bullish signal. However
continued gains above the 100-dma and more importantly above resistance at
1.1286/88 is required to trigger a fresh wave of bullish interest that would
open 1.1300 and beyond. Key support remains 1.1193, the low of Jul 9.

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.