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Free AccessTests Trendline *RES 3:...........>
EURO-DOLLAR TECHS: Tests Trendline
*RES 3: 1.1206/08 200-DMA / 61.8% of Jun 25 - Oct 1 decline
*RES 2: 1.1191 High Aug 14
*RES 1: 1.1179 High Oct 21
*PRICE: 1.1086 15:40 GMT Oct 25
*SUP 1: 1.1082 Low Oct 25
*SUP 2: 1.1081/61 Trendline support drawn off Oct 1 low / 50-day EMA
*SUP 3: 1.1023 Low Oct 16
Despite edging higher in the morning, EURUSD ebbed through support ahead of the
close before stalling just above the 1.1081 trendline (drawk off the Oct 1 low).
This should keep the underlying uptrend intact for now, making this weeks
pullback a correction. Bullish structures are still in place and trending
related indicators still point north. If a deeper correction continues to unfold
though, strong support is seen around 1.1061, the 50-day EMA and close to
trendline support that intersects at 1.1081, drawn off Oct 1 low.
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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.