Free Trial

$1.1605-$1.1595 Protects..........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: $1.1605-$1.1595 Protects Against A Fresh Down Move
*RES 4: $1.1790 Initial low Oct 20, now resistance
*RES 3: $1.1753 Oct 25 low, now resistance
*RES 2: $1.1725/30 Oct 23, Oct 18 lows, now resistance
*RES 1: $1.1675/80 Hourly highs Oct 26
*PRICE: $1.1639 @0914GMT 
*SUP 1: $1.1595/05 Hourly support
*SUP 2: $1.1574 Oct 27 low
*SUP 3: $1.1516 5 week bear channel base projection
*SUP 4: $1.1506 1.618 swing of $1.1649-$1.1880
*COMMENTARY* Still finding near term support from above last Friday's $1.1574
low, as we continue to correct some near term oversold conditions. Having moved
above $1.1644, this now sees $1.1675-$1.1680 as the next resistance area of
note, before we reach the more important $1.1725-$1.1730 region. A move back
above the latter is needed to disrupt recent downside momentum. In the meantime,
look to $1.1605-$1.1595 as protection against a fresh down move.

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.