Free Trial

Below 55-DMA To Confirm Focus.....>

EURO-DOLLAR TECHS: Below 55-DMA To Confirm Focus on $1.2092-1.2153
*RES 4: $1.2639 Weekly Bear channel top
*RES 3: $1.2555 2018 High Feb 16
*RES 2: $1.2446 High Mar 8
*RES 1: $1.2364 Alternating support/resistance
*PRICE: $1.2331 @ 0530GMT
*SUP 1: $1.2255 55-DMA 
*SUP 2: $1.2223 Hourly resistance Mar 1 now support 
*SUP 3: $1.2153 Low Mar 1 
*SUP 4: $1.2092 High Jan 4 now support
*COMMENTARY: The pair stalled on approach to the weekly bear channel top
($1.2639) off 2008 highs in past weeks. Bulls take comfort in support emerging
on dips back towards the 55-DMA but need a close above $1.2364 to gain breathing
room and above $1.2446 to reconfirm focus on $1.2555-1.2639 where 2018 highs and
the LT bear channel top are situated. Bears need a close below the 55-DMA to
confirm focus on $1.2092-1.2153.

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.