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Free AccessSet To Extend The Downside:.......>
EURO-DOLLAR TECHS: Set To Extend The Downside:
*RES 4: 1.1075 High Sep 17
*RES 3: 1.1034 Channel resistance drawn off May 26 high
*RES 2: 1.1025 High Sep 23
*RES 1: 1.0967 High Sep 26
*PRICE: 1.0905 @ 09:00 GMT Oct 2
*SUP 1: 1.0879 Low Oct 1
*SUP 2: 1.0862 76.4% retracement of Jan 2017 - Feb 2018 rally
*SUP 3: 1.0854 3.0% Lower Bollinger Band
*SUP 4: 1.0821/39 April / May 2017 Low
EURUSD is edging lower this morning. The pair is likely to remain heavy
following Monday's selling pressure and Tuesday's follow through, which hit a
fresh multi-year low at 1.0879. The recent breach of former support at 1.0926,
Sep 3 low also weighs on sentiment. The focus is on the Fibonacci level at
1.0862, and the 3.0% Lower Bollinger Band at 1.0854 . The channel base drawn off
the May 26 high lies at 1.0789 today. Resistance is at 1.0967.
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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.