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Stems losses for now: *RES 4:.....>

MNI (London)
EURO-DOLLAR TECHS: Stems losses for now:
*RES 4: 1.1281/84/86 High Jul 18/High Jul 15/High Jul 11
*RES 3: 1.1250/60 High Aug 06 / Cloud base
*RES 2: 1.1219/23 100-dma/50-dma
*RES 1: 1.1131 Low Aug 14
*PRICE: 1.1093 @ 03:18 GMT Aug 19
*SUP 1: 1.1066 Low Aug 16
*SUP 2: 1.1027 Low Aug 1 and key support
*SUP 3: 1.0963 Down Trendline from Nov 7 2017 low
*SUP 4: 1.0821 Low Apr 24 2017
EURUSD recovered of its lows Friday as the German press suggested the government
could loosen the fiscal purse strings. While the outlook is far from positive,
bears will be slightly concerned by the failure to retest 1.1027. The outlook
remains bearish though and the focus is on the Aug 1 low and bear trigger at
1.1027. A break would bring the down trendline from the Nov 7 2017 low into play
as key support. Bulls need a close above the 100-dma and 1.1250/60.
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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