Free Trial

Recovery Still Lacks A $1.1847....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Recovery Still Lacks A $1.1847 Break
*RES 4: $1.1911/21 Aug 2 high, equality rise from $1.1119
*RES 3: $1.1891 1% volatility band
*RES 2: $1.1847 Aug 11 high
*RES 1: $1.1828 Aug 21 high
*PRICE: $1.1785 @0807GMT 
*SUP 1: $1.1730/40 Hourly support
*SUP 2: $1.1700 Hourly basing area Aug 15-17
*SUP 3: $1.1656/62 1% volatility band, Aug 17 low
*SUP 4: $1.1625 Equality fall from $1.1847 to $1.1911-$1.1689
*COMMENTARY* Has been consolidating within a $1.1847-$1.1662 range for three
weeks now, albeit with a slight upside bias since Aug 17. That said, $1.1828,
let alone the more important $1.1847 level, has so far capped attempts higher.
Will need to clear the latter before upside belief is confirmed for a retest to
$1.1911-21 and likely a higher $1.2047-$1.2065 rise. Support $1.1740-$1.1700,
loss will caution and put the base of the consolidation under pressure.

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.