Free Trial

Failure at 100-dma exposes........>

EURO-DOLLAR TECHS
MNI (London)
EURO-DOLLAR TECHS: Failure at 100-dma exposes 1.1193:
*RES 4: 1.1322/44 200-dma / Low Jun 25
*RES 3: 1.1302 50% retracement of the Jun 25-Jul 9 sell-off
*RES 2: 1.1286/88 High Jul 11 and Jul 5 / Bull trigger
*RES 1: 1.1254/63 100-dma / High Jul 16
*PRICE: 1.1213 @ 04:07 GMT July 17
*SUP 1: 1.1202 Low Jul 16
*SUP 2: 1.1193 Low Jul 9 and key support
*SUP 3: 1.1181 Jun 18 low
*SUP 4: 1.1168 2% lower Bollinger band
EURUSD failed to hold above the 100-dma with the subsequent retracement
extending to 1.1202. This is a concern for bulls with attention back on key
support at 1.1193, the low of Jul 9. A break would expose a deeper sell-off
towards 1.1181 and 1.1168. The bullish engulfing candle pattern of Jul 10 has
not yet been negated. However gains above the 100-dma and more importantly above
resistance at 1.1286/88 is needed to trigger a fresh wave of bullish interest.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

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.