Free Trial

Challenging Trendline.............>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Challenging Trendline Resistance
Risk appetite has seen EURUSD reclaim 1.1700 and look to challenge trendline
resistance from the July high at 1.1712. Bulls need to overcome the Aug 28 high
at 1.1733, bringing the key 1.1750 area into view, a level that previously held
six times in July. A break here would provide fresh impetus and trigger a large
inverse head-and-shoulders formation. Bears need a close below the 100-dma &
1.1600 to shift focus back to the downside, suggesting a resumption of weakness
towards the ytd low at 1.1301.

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.