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Downtrend Intact Recoveries.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Downtrend Intact
Recoveries remained shallow throughout Wednesday's session although the pair
managed to erase the bulk of the weakness seen across the European trading day.
Nonetheless, the recent downtrend looks still intact absent any recovery above
1.14. Rate printed fresh cycle lows of 1.1301 and continues to display outright
bearish signals on an intraday basis. Bears eye the June 28 2017 lows at 1.1292
for further direction. Bulls will need to recover the $1.1430/35 level and
Friday's high of 1.1482 before any attempt on the neckline
support-turned-resistance at 1.1500.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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