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Free AccessDowntrend Intact Recoveries.......>
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.
To read the full story
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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.