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Free AccessBullish Reversal: *RES 4:.........>
EURO-DOLLAR TECHS: Bullish Reversal:
*RES 4: 1.1250 High Aug 06 and key resistance
*RES 3: 1.1208/13 50-dma and 100-dma
*RES 2: 1.1180 Near Term Pivotal
*RES 1: 1.1158 High Aug 15
*PRICE: 1.1133 @ 16:32 GMT Aug 23
*SUP 1: 1.1107 Former resistance
*SUP 2: 1.1052 Intraday low
*SUP 3: 1.1027 Low Aug 1 and key support
*SUP 4: 1.1000/0998 Psychological level / Channel base drawn off the Jan 10 high
EURUSD has spiked sharply higher through the initial resistance at 1.1114,
triggering a near-term bullish reversal signal. The focus is now on the pivotal
resistance at 1.1180. A further break above here would also confirm a break
above down trendline resistance adding to evidence that a bottom has been
established. This opens potential towards 1.1250 (August 6 high). Initial
support is now placed at 1.1107.
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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.