Free Trial

Outright bearish: *RES 4:.........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Outright bearish:
*RES 4: 1.1191/1204 50-dma/100dma
*RES 3: 1.1164 High Aug 26
*RES 2: 1.1153 Trendline resistance drawn off the Jun 25 high
*RES 1: 1.1098 High Aug 28
*PRICE: 1.0986 @ 15:53 GMT Aug 30
*SUP 1: 1.0985 Intraday Low
*SUP 2: 1.0969 1.0% 10-dma envelope
*SUP 3: 1.0946 3.0% Lower Bollinger Band
*SUP 4: 1.0864 76.4% retracement of the Jan 2017 - Feb 2018 rally
The single currency took out several key support levels Friday, firstly the YTD
low, swiftly followed by 1.10 psychological support and the channel base. This
bumps the pair into outright bearish territory, targeting volatility band
support at both 1.0969 and 1.0946. Any fall through here sees Fib support
targeted at 1.0864. For bulls to regain a semblance of influence, markets need
to take out key resistance at 1.1164, the Aug 26 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.