Free Trial

Bulls hope for a base: *RES 4:....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bulls hope for a base:
*RES 4: 1.1174 38.2% 1.1412 - 1.1027
*RES 3: 1.1162 Jul 31 high
*RES 2: 1.1118 23.6% 1.1412 - 1.1027
*RES 1: 1.1115 Intraday high
*PRICE: 1.1099 @ 08:27 GMT Aug 02
*SUP 1: 1.1027/23 YTD low/May 08, 2017 high
*SUP 2: 1.1020 Lower 1.0% 10-dma envelope
*SUP 3: 1.0990 Lower Bollinger Band (3%)
*SUP 4: 1.0984 Down Trendline from Nov 07, 2017
Markets found a bottom at 1.1027 Thursday, but it's too soon to call for a
bullish reversal as traders look for a base. For the outlook to firm, bulls need
a recovery back above the Jul 25 low, and ideally, a recovery above 1.1162.
Markets can't factor out further downside, however, with bears eyeing the 1.10
psychological support.

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.