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EURO-DOLLAR TECHS: Focus Is On The Channel Top:
*RES 4: 1.1109 High Sep 13
*RES 3: 1.1076 High Sep 18
*RES 2: 1.1018/25 Channel resistance drawn off Jun 25 high / High Sep 23
*RES 1: 1.0998/99 High Oct 4/Oct 3
*PRICE: 1.0977 @ 15:28 GMT Oct 4
*SUP 1: 1.0905 Low Oct 2
*SUP 2: 1.0879 Low Oct 1
*SUP 3: 1.0862 76.4% retracement of Jan 2017 - Feb 2018 rally
*SUP 4: 1.0842 3.0% Lower Bollinger Band
EURUSD a quiet morning session unsurprisingly, ahead of today's NFP release. The
pair is trading closer to its bull channel top, that today intersects at 1.1018.
The channel is drawn off Jun 25 high. Whether this weeks recovery marks the
start of a more bullish theme depends on whether prices can clear the channel
resistance. If so, a break would represent a trend reversal. For now the
downtrend remains intact. Renewed weakness would refocus attention on 1.0879.