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MNI: China CFETS Yuan Index Down 0.25% In Week of Nov 10

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Trend Needle Points South

EURUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 1.1229 High Jul 20
  • RES 3: 1.1150 High Jul 27
  • RES 2: 1.1065 High Aug 10
  • RES 1: 1.0984 20-day EMA
  • PRICE: 1.0902 @ 16:58 BST Aug 16
  • SUP 1: 1.0875 Low Aug 14
  • SUP 2: 1.0834 Low Jul 6 and a key support
  • SUP 3: 1.0804 Low Jun 151
  • SUP 4: 1.0754 Bull channel base drawn from the Mar 15 low

The trend needle in EURUSD continues to point south. Support at 1.0912, the Aug 3 low, has been cleared and this confirms a resumption of the bear cycle that started Jul 18. The move lower signals scope for weakness towards 1.0834 next, the Jul 6 low and a key level. Price is also trading lower inside a bull channel drawn from Mar 15 low. The base of the channel lies at 1.0754. Key short-term resistance is at 1.1065, the Aug 10 high.

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  • RES 4: 1.1229 High Jul 20
  • RES 3: 1.1150 High Jul 27
  • RES 2: 1.1065 High Aug 10
  • RES 1: 1.0984 20-day EMA
  • PRICE: 1.0902 @ 16:58 BST Aug 16
  • SUP 1: 1.0875 Low Aug 14
  • SUP 2: 1.0834 Low Jul 6 and a key support
  • SUP 3: 1.0804 Low Jun 151
  • SUP 4: 1.0754 Bull channel base drawn from the Mar 15 low

The trend needle in EURUSD continues to point south. Support at 1.0912, the Aug 3 low, has been cleared and this confirms a resumption of the bear cycle that started Jul 18. The move lower signals scope for weakness towards 1.0834 next, the Jul 6 low and a key level. Price is also trading lower inside a bull channel drawn from Mar 15 low. The base of the channel lies at 1.0754. Key short-term resistance is at 1.1065, the Aug 10 high.