Free Trial

Impulsive Sell-Off

EURUSD TECHS
  • RES 4: 1.1355 1.382 proj of the May 31 - Jun 22 - Jul 7 price swing
  • RES 3: 1.1313 High Feb 24 2022
  • RES 2: 1.1276 High Jul 18 and the bull trigger
  • RES 1: 1.1150/1229 Intraday high / High Jul 20
  • PRICE: 1.0998 @ 14:46 BST Jul 27
  • SUP 1: 1.0972 50-day EMA
  • SUP 2: 1.0949 Trendline support drawn from the May 31 low
  • SUP 3: 1.0867 Low Jul 7
  • SUP 4: 1.0834 Low Jul 6 and a key support

EURUSD is once again trading sharply lower having stalled at today’s high of 1.1150. This reinforces a short-term bearish theme. The break of 1.1021, the Jul 25 low, highlights a resumption of the current bear leg and opens the 50-day EMA at 1.0972. Note that a trendline support lies at 1.0949, drawn from the May 31 low. A break of the trendline would strengthen a bearish threat. First resistance is at today’s 1.1150 high.

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.