Free Trial

1.1064 Is The Trigger For.........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: 1.1064 Is The Trigger For Weakness
*RES 4: 1.1250 High Aug 146
*RES 3: 1.1194 200-DMA
*RES 2: 1.1179 High Oct 21 and bull trigger
*RES 1: 1.1140 High Nov 5
*PRICE: 1.1068 18:34 GMT Nov 6
*SUP 1: 1.1064 Low Nov 5 / 38.2% of Oct 1 - Oct 21 rally
*SUP 2: 1.1023/29 Low Oct 16 / 50.0% of Oct 1 - Oct 21 climb
*SUP 3: 1.0991 Low Oct 15
*SUP 4: 1.0950 76.4% of Oct 1 - Oct 21 climb
EURUSD was relatively quieter today following the sharp sell-off over the past
two sessions that saw key support at 1.1073, Oct 25 low breached. This has
confirmed a double top following the recent failure at 1.1179, Oct 21 high. It
is not a major reversal but suggests scope for a deeper S/T decline towards
1.0967, the double top projection. Support is yesterday's low of 1.1064, just
below the 50-day EMA which has essentially contained the downside for now.

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.