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Free AccessUS GDP Helps Pair Off Cycle.......>
EURO-DOLLAR TECHS: US GDP Helps Pair Off Cycle Lows
EURUSD headed north of 1.1150 on the poor components of US GDP, but the pair
struggled to gain any traction above there, keeping the major bearish downtrend
intact. The initial downside target is the May 30 2017 low at 1.1110, just ahead
of the 1.11 handle. A break here would likely accelerate the move toward the May
18 2017 low & down trendline at 1.1076/73. Bulls need to recover 1.12, before
challenging the 21-dma & Apr 22 high at 1.1234/62.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.