Free Trial

Positive recovery to extend:......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Positive recovery to extend:
*RES 4: 1.1141/64 1.0% 10-dma envelope / High Aug 26
*RES 3: 1.1120 Trendline resistance drawn off the Jun 25 high
*RES 2: 1.1098 High Aug 28
*RES 1: 1.1085 High Sep 5
*PRICE: 1.1058 @ 16:35 BST Sep 9
*SUP 1: 1.0969 Low Sep 4
*SUP 2: 1.0926 Low Sep 3 and key support
*SUP 3: 1.0893/81 3.0% Lower Boll Band / Bear channel base drawn off Jun 25 high
*SUP 4: 1.0865 1.00 projection of Jun 25 - Aug 1 decline from Aug 6 high
EURUSD is expected to maintain a bullish tone for now, following the strong
bounce last week off Tuesday's 1.0926 low. The focus is on Thursday's 1.1085
high where a break would pave the way for strength toward trendline resistance
drawn off the Jun 25 high, at 1.1120. This marks the next key hurdle for bulls.
Momentum studies are pointing higher, supporting the positive outlook. A return
below 1.1000 would concern bulls, the first significant support is at 1.0969.

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.