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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.
EURO-DOLLAR TECHS
- The pair is under pressure this morning.
- While the trend remains bullish, we do note a potential short-term threat to this outlook.
- The sell-off yesterday from the day high resulted in a close near session lows confirming a "shooting star" candle pattern.
- This is a bearish development and a potential warning to bulls.
- Reinforcing the importance of this pattern is a phase of bearish divergence between price and momentum that has unfolded since Jul 27.
- This condition suggests gains are unsustainable and highlights the risk that a correction is likely to unfold.
- The next key support to watch is 1.1754, Aug 21 low. A break would reinforce a bearish threat and expose trendline support at 1.1697, drawn off the May 14 low.
- Bulls need a break above yesterday's high of 1.2011 to signal a resumption of the uptrend.
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.
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