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Consolidating within a bull.......>

MNI (London)
EURO-DOLLAR TECHS: Consolidating within a bull flag:
*RES 4: 1.1365 Trendline resistance drawn off the Jan 10 high
*RES 3: 1.1281/84/86 High Jul 18/High Jul 15/High Jul 11
*RES 2: 1.1250/60 High Aug 06 / Cloud base
*RES 1: 1.1224/38 100-dma/50-dma
*PRICE: 1.1186 @ 03:33 GMT Aug 13
*SUP 1: 1.1162 Low Aug 12
*SUP 2: 1.1169 200-hma
*SUP 3: 1.1105 Low Aug 5
*SUP 4: 1.1070/69 Low Aug 02 / Lower Boll Band (2%)
EURUSD continues to trade in a consolidative manner within a 1.1150-1.1250
range, seen as a potential bull flag. For bulls to build on the base established
off the Aug 1 low of 1.1027, a close above the 100-dma and previously hard to
overcome 1.1240/50 area is required to extend the uptrend. This would open
1.1286, and trendline resistance drawn off the Jan 10 high at 1.1365. Support is
located around the 200-hma at 1.1169, a break opens the Aug 5 low of 1.1105.
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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