Free Trial

Bullish Reversal: *RES 4:.........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bullish Reversal:
*RES 4: 1.1109 High Sep 13
*RES 3: 1.1076 High Sep 18
*RES 2: 1.1050 50-dma
*RES 1: 1.1034 High Oct 10
*PRICE: 1.1018 @ 03:10 GMT Oct 11
*SUP 1: 1.0991 Former channel top drawn off the Jun 25 high
*SUP 2: 1.0941 Low Oct 3 and Oct 8
*SUP 3: 1.0904 Low Oct 2
*SUP 4: 1.0879 Low Oct 1 and bear trigger
EURUSD finally cracked the channel top Thursday, improving the M/T outlook for
bulls with a bullish reversal confirmed. Attention is on the 50-dma at 1.1050
that hasn't been tested since early August and represents the first
target/resistance following the latest break. Momentum studies have shifted back
to a bull mode reinforcing the developing positive theme. The former channel
top-now-support is at 1.0991 and would be expected to limit any pullback.

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.