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Free AccessBullish engulfing candle: *RES....>
EURO-DOLLAR TECHS: Bullish engulfing candle:
*RES 4: 1.1250 High Aug 06 and key resistance
*RES 3: 1.1208/13 50-dma and 100-dma
*RES 2: 1.1180/81 Pivotal level & trendline resistance drawn off the Jun 25 high
*RES 1: 1.1158 High Aug 15
*PRICE: 1.1142 @ 03:59 GMT Aug 26
*SUP 1: 1.1114 High Aug 19 and former resistance
*SUP 2: 1.1052 Low Aug 23
*SUP 3: 1.1027 Low Aug 1 and key support
*SUP 4: 1.1000/0997 Psychological level / Channel base drawn off the Jan 10 high
EURUSD spiked sharply higher through the initial resistance at 1.1114 Friday,
triggering a near-term bullish reversal signal in the shape of a bullish
engulfing candle. The focus is now on the pivotal resistance at 1.1180. A break
here would reinforce a bullish outlook and confirm a break above trendline
resistance drawn off the Jun 25 high, at 1.1181. This would open 1.1250, the Aug
6 high. Initial support is now placed at 1.1114 ahead of 1.1052.
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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.