Free Trial

Bulls Targeting Weekly Bear.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bulls Targeting Weekly Bear Channel Top
*RES 4: $1.2694 LT Weekly Bear Channel top
*RES 3: $1.2569 Monthly High Dec 16 2014
*RES 2: $1.2360 Low Dec 10 2014 now resistance
*RES 1: $1.2254 High Dec 25 2014
*PRICE: $1.2209 @ 0530GMT
*SUP 1: $1.2156 Hourly resistance Jan 12 now support 
*SUP 2: $1.2111 Hourly support Jan 12 
*SUP 3: $1.2075 Hourly resistance Jan 12a now support 
*SUP 4: $1.2018 High Jan 10 now support
*COMMENTARY: The 21-DMA ($1.1962) provided the base last week for a rally to
3+yr highs with bulls now focused on the LT weekly bear channel top off mid 2008
highs. Daily studies have a little room to move before O/B is an issue. Layers
of support are accumulating with bears now needing a close below $1.2075 to ease
bullish pressure and below $1.2018 to shift focus back to $1.1835-1.1962 where
key DMAs are noted.

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.