Free Trial

$1.1689-1.1725 Resistance Key.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: $1.1689-1.1725 Resistance Key
*RES 4: $1.1785 Hourly resistance Oct 26 
*RES 3: $1.1725 Low Oct 23 now resistance 
*RES 2: $1.1689 Hourly support Oct 26 now resistance 
*RES 1: $1.1659 Hourly resistance Oct 26
*PRICE: $1.1644 @ 1930GMT
*SUP 1: $1.1575 Low Oct 27 
*SUP 2: $1.1522 Daily bear channel base 
*SUP 3: $1.1478 Low July 20 
*SUP 4: $1.1369 High July 5 now support
*COMMENTARY: Following the topside failure around the 55-DMA ($1.1832) last week
the pair headed lower with bears focused on $1.1478-1.1575 where the bear
channel base is noted. The weekly close below the 200-WMA ($1.1671) added weight
to the bearish case. The Bollinger base ($1.1629) remains the key concern and
currently limits follow through. Bulls need a close above $1.1689 to ease
bearish pressure and above $1.1725 to target the 55-DMA.

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.