Free Trial

Bearish Trend Intact EURUSD.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bearish Trend Intact
EURUSD closed below up trendline support at 1.1345 yesterday, triggering a
potential bear flag. Despite staging a mini recovery through Europe, focus
returns to the downside where the 200-wma at 1.1303 will be monitored at the
close. A break back under 1.13 opens the Nov lows & long-term 61.8% fibo at
1.1216/13. Bulls need to recover 1.14 to improve the outlook, above here targets
a break of the 100-dma at 1.1449 ahead of a run at the 1.15 level.

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.