Free Trial

Briefly Above 1.1800 A large......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Briefly Above 1.1800
A large inverse head-and-shoulders pattern formed after the break of 1.1750
yesterday, targeting 1.21+. Risk appetite spilled over into Europe, EURUSD
briefly traded above the 1.1800 level, but soon faded. Despite this the recent
uptrend remains intact with near-term resistance at 1.1851 from the June 14
high. Above here targets the 50% retracement (Feb high - Aug low) & 200-dma
resistance levels at 1.1928/47. Bears need a close below the 100-dma at 1.1663
to shift focus back to the downside, suggesting a resumption of weakness towards
the ytd low at 1.1301.

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.