Free Trial

Bulls Targeting Close Above.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bulls Targeting Close Above 1.12
Strong German CPI & Spain GDP carried the pair higher throughout the European
and US sessions, extending EUR/USD's rally off Friday's low. The single currency
looks set to register its third consecutive session of gains with bulls
targeting a close above the 1.12 level. This would reignite topside momentum
opening the 21-dma & broken trendline at 1.1232/50, ahead of the Apr 22 high &
50-dma at 1.1262/77. Bears downside focus remains on the Apr 26 & May 30 2017
lows at 1.1112/10. Protection is expected ahead of the 1.11 handle, with a break
here likely accelerating the move toward the May 18 2017 low & down trendline at
1.1076/70.

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.