Free Trial

Breaks $1.1930, Holds Above in Early Trade

EUR
MNI (London)
  • Upside pressure allows for an eventual break of the $1.1930 level, but follow through quickly loses momentum at $1.1939.
  • However, corrective pullback remains above the broken resistance level and seen keeping underlying tone buoyant.
  • Markets seen thinner than usual due to today's NY holiday and could leave suggested stop levels as 'easy targets'.
  • If rate can hold gains above $1.1930 seen opening a move toward $1.1960/66(1.618% swing projection 1.1930-1.1882/Aug18 high).
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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.