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Hammer reversal?: *RES 4:.........>

EURO-DOLLAR TECHS
MNI (London)
EURO-DOLLAR TECHS: Hammer reversal?:
*RES 4: 1.1144 Trendline resistance drawn off the Jun 25 high
*RES 3: 1.1098 High Aug 28
*RES 2: 1.1027 Low Aug 1 and former bear trigger
*RES 1: 1.0999 High Sep 2
*PRICE: 1.0975 @ 04:12 GMT Sep 4
*SUP 1: 1.0926 Low Sep 3
*SUP 2: 1.0912/01 3.0% Lower Bollinger Band / Bear channel base drawn off Jun 25
high
*SUP 3: 1.0889 1.618% swing of 1.1027 - 1.1250
*SUP 4: 1.0864 76.4% retracement of the Jan 2017 - Feb 2018 rally
EURUSD appeared weak through Europe Tuesday before it staged a modest recovery.
This has yet to shift outlook more positive, bulls needing a move above the Aug1
low of 1.1027 and Aug28 high of 1.1098 to threaten trend. Note yesterday's
candle pattern is a hammer reversal, however additional confirmation is required
to validate. Further weakness is anticipated, focus on 1.0912/01 next.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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