Free Trial

Bears Need Close Below $1.2290....>

EURO-DOLLAR TECHS: Bears Need Close Below $1.2290
*RES 4: $1.2477 High Mar 27
*RES 3: $1.2428 Daily Bear channel top
*RES 2: $1.2395 High Apr 11
*RES 1: $1.2353 Hourly support Apr 12 now resistance
*PRICE: $1.2325 @ 2130GMT
*SUP 1: $1.2290 High Apr 6 now support 
*SUP 2: $1.2257 Hourly support Apr 6 
*SUP 3: $1.2209 Low Apr 6 
*SUP 4: $1.2172 100-DMA
*COMMENTARY: Hesitation ahead of the daily bear channel top sees the pair
flirting with the 55-DMA ($1.2335) and pressuring initial support. Bears
continue to look for a close below $1.2290 to return focus to $1.2153-1.2209
where the 100-DMA is located. Bulls now need a close above $1.2353 to gain
breathing room and above $1.2477 to confirm a return in focus to $1.2555-1.2611
where the LT bear channel top off 2018 highs is located.

To read the full story



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.