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February 23, 2018 04:42 GMT
$1.2372 Resistance Now Key *RES...>
EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: $1.2372 Resistance Now Key
*RES 4: $1.2515 Alternating hourly support/resistance
*RES 3: $1.2461 Hourly resistance Feb 16
*RES 2: $1.2435 High Feb 19
*RES 1: $1.2372 Hourly resistance Feb 20
*PRICE: $1.2309 @ 0530GMT
*SUP 1: $1.2259 Low Feb 22
*SUP 2: $1.2205 Low Feb 9
*SUP 3: $1.2167 Low Jan 17
*SUP 4: $1.2092 High Jan 4 now support
*COMMENTARY: Rejection ahead of Dec 2014 monthly highs and the LT bear channel
top ($1.2649) off 2008 highs Friday sees immediate focus now on the
$1.2092-1.2205 support region. Below $1.2092 is needed to end bullish hopes and
initially target $1.1915-75 where the 100-DMA is located. Layers of resistance
are weighing with bulls needing a close above $1.2372 to gain breathing room and
above $1.2461 to shift focus to 2018 highs.
To read the full story
Close
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.
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.
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