Free Trial

Break Of $1.1898 Resistance.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Break Of $1.1898 Resistance Encouraging, $1.1965-77 Above
*RES 4: $1.2049 38.2% Fibo of $1.2414-$1.1823
*RES 3: $1.2009 May 3 high
*RES 2: $1.1965/77 76.4% of $1.2009-$1.1823, May 7 high
*RES 1: $1.1939/47 May 8, intraday highs
*PRICE: $1.1913 @1625GMT 
*SUP 1: $1.1855/65 Hourly support
*SUP 2: $1.1823 May 9 low
*SUP 3: $1.1790 76.4% Fibo of $1.1554-$1.2556
*SUP 4: $1.1738/46 Dec 15 low, 1.618 swing $1.1823-$1.1947
*COMMENTARY* A low of $1.1823 on Wednesday before encountering some oversold
hourly conditions. Initial resistance from the May 7 low at $1.1898 carries some
importance and the move back through here is encouraging. A high of $1.1947 so
far, as we make our way to the next checkpoint at $1.1965-$1.1977. Ideally
support from between $1.1865-$1.1855 stays intact now, else risk reverts lower
again, $1.1790-$1.1738 the next target area below $1.1823.

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.