Free Trial

Bearish Reversal EURUSD failed....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bearish Reversal
EURUSD failed to hold the 1.1600 level as this week's rally runs out of steam
and starts to develop a bearish reversal. Monday's 1.1530 low now comes into
view, a close through here would add weight to the bearish scenario. A break
below the YTD low of 1.1509 resumes the longer-term downtrend. Bulls need to
reclaim 1.1628/38 (week's high and 50% retracement level of recent decline) to
challenge 1.1656, which is seen as the next hurdle before the outlook can shift
positive.

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.