Free Trial

Below 55-DMA To Target............>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Below 55-DMA To Target $1.2092-1.2153
*RES 4: $1.2446 High Mar 8
*RES 3: $1.2438 Bollinger band top
*RES 2: $1.2414 High Mar 14
*RES 1: $1.2348 Hourly resistance Mar 15
*PRICE: $1.2310 @ 0530GMT
*SUP 1: $1.2277 55-DMA 
*SUP 2: $1.2211 Bollinger band base 
*SUP 3: $1.2153 Low Mar 1 
*SUP 4: $1.2092 High Jan 4 now support
*COMMENTARY: Bulls failed to challenge the key $1.2446 resistance with the pair
looking heavy having broken back below $1.2340 and focus returned to the 55-DMA.
Bears continue to look for a close below the 55-DMA to target the key
$1.2092-1.2153 support region. Daily studies are well placed for a fresh leg
lower. Bulls now need a close above $1.2348 to gain breathing room and above
$1.2446 to target $1.2555-1.2639.

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.