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Eyeing Trendline Support

EURO-DOLLAR TECHS
  • RES 4: 1.2032 High May 2, 2018
  • RES 3: 1.2011 High Sep 1 and the bull trigger
  • RES 2: 1.1929 High Sep 2
  • RES 1: 1.1865 High Sep 3
  • PRICE: 1.1767 @ 10:28 BST Sep 9
  • SUP 1: 1.1755 Trendline support drawn off the May 14 low
  • SUP 2: 1.1754 Low Aug 21 and the bear trigger
  • SUP 3: 1.1676 50-day EMA
  • SUP 4: 1.1639 Low Jul 27

EURUSD remains vulnerable following last week's failure above 1.2000 and recent technical signals still highlight a S/T threat to the bullish outlook. The sell-off on Sep 1, resulted in a close near session lows confirming a "shooting star" candle pattern. This is a bearish pattern. The focus is on key support at 1.1754, Aug 21 low and trendline support at 1.1755. A break would highlight a reversal. Resistance is at 1.1865, Sep 3 high.

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