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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: 1.1917 High Sep 10
  • PRICE: 1.1867 @ 17:29 BST Sep 10
  • SUP 1: 1.1801 Low Sep 10
  • SUP 2: 1.1753 Low Sep 9 and key support
  • SUP 3: 1.1711 Low Aug 12
  • SUP 4: 1.1681 50-day EMA
EURUSD traded higher Thursday. Trendline support drawn off the May 14 low remains intact. Wednesday saw the price probe the trendline at 1.1755 before recovering. Furthermore, a key support at 1.1754, Aug 21 low also survived a test Wednesday with the pair trading to a low print of 1.1753. These developments reinforce the importance of 1.1753 as a key support. A clear break is required to signal a more meaningful reversal. Initial resistance is at 1.1917, Sep 10 high. Key trend resistance is at 1.2011, Sep 1 high.

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