Free Trial

Bears Need Close Below 55-DMA.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bears Need Close Below 55-DMA
*RES 4: $1.1940 High Dec 1
*RES 3: $1.1884 Alternating hourly support/resistance
*RES 2: $1.1848 High Dec 6
*RES 1: $1.1814 High Dec 7
*PRICE: $1.1776 @ 2000GMT
*SUP 1: $1.1764 55-DMA 
*SUP 2: $1.1713 Low Nov 21 
*SUP 3: $1.1690 High Nov 3 now support 
*SUP 4: $1.1621 Low Nov 10
*COMMENTARY: The daily bull channel top ($1.2066) capped last week and now sees
the pair gaining traction below the channel base ($1.1875) and pressuring the
55-DMA. Bears still need a close below the 55-DMA to confirm an easing of
bullish pressure and below $1.1690 to confirm initial focus on $1.1552 Nov lows.
Bulls continue to look for a close above $1.1848 to gain breathing room and
above $1.1884 to shift focus back to $1.1940-61.

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.