Free Trial

Bullish Structure: *RES 4:........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bullish Structure:
*RES 4: 1.1139 100-dma
*RES 3: 1.1109 High Sep 13
*RES 2: 1.1076 High Sep 18
*RES 1: 1.1060/63 Intraday high/ High Oct 11
*PRICE: 1.1027 09:30 GMT Oct 16
*SUP 1: 1.1001/0975 Low Oct 11 / Former channel top drawn off 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 traded lower yesterday although managed to recover off the day low. The
pair maintains the bullish tone following last weeks break above the channel
top. This not only improved the medium-term outlook, it confirmed a bullish
reversal. Momentum studies are pointing north reinforcing the developing
positive theme. The former channel top-now-support intersects at 1.0975 today
and would be expected to limit any near-term 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.