Free Trial

Trendline Support Remains Intact

EURO-DOLLAR TECHS
  • RES 4: 1.2032 High May 2, 2018
  • RES 3: 1.2011 High Sep 1 and the bull trigger
  • RES 2: 1.1929 High Sep 2
  • RES 1: 1.1865 High Sep 3
  • PRICE: 1.1820 @ 05:39 BST Sep 10
  • SUP 1: 1.1753 Low Sep 9 and key support
  • SUP 2: 1.1711 Low Aug 12
  • SUP 3: 1.1676 50-day EMA
  • SUP 4: 1.1639 Low Jul 27

EURUSD remains vulnerable following last week's failure above 1.2000. Yesterday's price action though saw the pair recover off a key support at the 1.1755/54 level. This marked trendline support drawn off the May 14 low and the Aug 21 low. A clear breach of the trendline would signal a reversal and reinforce the recent move lower. The uptrend remains intact while the trendline holds. Initial resistance is at 1.1865, Sep 3 high.

To read the full story

Close

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.