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Free AccessClears The 61.8% Retracement......>
EURO-DOLLAR TECHS: Clears The 61.8% Retracement
*RES 4: 1.1292 61.8% of the Mar 9 - 23 sell-off
*RES 3:1.1237 High Mar 16
*RES 2: 1.1193 2.0% 10-dma envelope
*RES 1: 1.1185 Intraday high
*PRICE: 1.1179 @ 10:25 BST Jun 2
*SUP 1: 1.1115 Intraday low
*SUP 2: 1.1070 Low May 29
*SUP 3: 1.0992 May 28 low
*SUP 4: 1.0957 20-day EMA
EURUSD continues to push higher today. Importantly, the pair has cleared 1.1167,
61.8% of the Mar 9 - 23 sell-off. This reinforces the current bullish theme that
was confirmed last week following the break of resistance at 1.1018, May 1 high.
Furthermore, momentum and MA studies are pointing north, also reinforcing
current bullish conditions. Attention is on 1.1237 next, Mar 16 high and 1.1292
further out, the 76.4% retracement. Support lies at 1.1070.
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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.