Free Trial
GBPUSD TECHS

Monitoring The Hammer Candle Pattern

EURUSD TECHS

Remains Bearish Inside Its Bear Channel

COLOMBIA

BanRep Rate Decision in 1 Hour

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Channel Resistance Still Intact

EURUSD TECHS
  • RES 4: 1.0536 High Jun 29
  • RES 3: 1.0488 High Jun 30
  • RES 2: 1.0449 High Jul 5
  • RES 1: 1.0335/68 Channel top from Feb 10 high / High Aug 10
  • PRICE: 1.0253 @ 15:49 BST Aug 12
  • SUP 1: 1.0202/0123 Low Aug 10 / 3
  • SUP 2: 1.0097 Low Jul 27 and key short-term support
  • SUP 3: 1.0064/0.9952 Low Jul 18 / 14 and the bear trigger
  • SUP 4: 0.9944 1.618 projection of the Jun 9 - 15 - 27 price swing

EURUSD drifted into the Friday close, but managed to finish with gains on the week. The early rally cleared resistance at 1.0294, the Aug 2 high. The 50-day EMA has been pierced. Price has also traded briefly above the bear channel top, currently at 1.0335. This remains a key resistance and a clear break would strengthen bullish conditions. Note that a deeper pullback would highlight bearish threat instead, and would signal a reversal lower inside the channel. Watch support at 1.0123, Aug 3 low.

161 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: 1.0536 High Jun 29
  • RES 3: 1.0488 High Jun 30
  • RES 2: 1.0449 High Jul 5
  • RES 1: 1.0335/68 Channel top from Feb 10 high / High Aug 10
  • PRICE: 1.0253 @ 15:49 BST Aug 12
  • SUP 1: 1.0202/0123 Low Aug 10 / 3
  • SUP 2: 1.0097 Low Jul 27 and key short-term support
  • SUP 3: 1.0064/0.9952 Low Jul 18 / 14 and the bear trigger
  • SUP 4: 0.9944 1.618 projection of the Jun 9 - 15 - 27 price swing

EURUSD drifted into the Friday close, but managed to finish with gains on the week. The early rally cleared resistance at 1.0294, the Aug 2 high. The 50-day EMA has been pierced. Price has also traded briefly above the bear channel top, currently at 1.0335. This remains a key resistance and a clear break would strengthen bullish conditions. Note that a deeper pullback would highlight bearish threat instead, and would signal a reversal lower inside the channel. Watch support at 1.0123, Aug 3 low.