"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 5 hours Why Criminals' Cryptocurrency Choices Matter To Average Investors
  • 1 day OPEC ‘Supergroup’ Keeps Oil Exports Subdued
  • 1 day One Belt, One Road, One Direction for Precious Metals
  • 1 day Vicious Trio Keeps Bitcoin in Chokehold
  • 2 days How Infrastructure Is Driving A Commodity Boom
  • 2 days What’s Really Happening With Venezuela’s “El Petro?”
  • 2 days Gold Bull and Bear Markets
  • 2 days 5 Big Drivers of Higher Inflation Rates Ahead
  • 2 days U.S. And China To Face Off Over Aramco IPO
  • 3 days Gold Bulls, Brace Yourselves – Fed Hikes Are Coming!
  • 3 days Stocks Fail to Hold Gains, But Still No Correction
  • 3 days Cryptojacking: A New Threat Vector To Critical Infrastructure
  • 3 days Why The Next Oil Boom Will Be Fueled By Blockchain
  • 4 days 5 Things Investors Should Know About China this New Year
  • 4 days Is The South Korean Crypto-Drama Finally Over?
  • 4 days Miners’ Rally? What Rally? Watch Out for More Fake Moves!
  • 4 days Four Percent 10-year Note Yield Will Be a Floor Not a Ceiling
  • 4 days The End Is Near
  • 4 days 5 Record Breaking Gemstones Even Billionaires Can’t Buy
  • 4 days Irredeemable Currency De-tooths Savers

EUR/USD: Short-Term Structure Favours Supply Near 1.2300

EUR/USD has continued lower, as expected, after forming a minor double top at 1.2443. Short-term structure continues to favour fresh supply on a return to the 1.2300 region. A push back over 1.2342 (06/08/2012 low) is required to dampen this near-term bearish structure.

The US Dollar Index is also showing signs of strength with a break back over 83.508 (02/08/2012 high) warning of a fresh leg higher to break over the annual high at 84.100.

Longer-term a return to the 1.1000 region, close to multi-week channel support remains feasible.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment




Don't Miss A Single Story