Free Trial

Capped Ahead Of Key Resistance....>

EURO-DOLLAR TECHS: Capped Ahead Of Key Resistance Region
*RES 4: $1.2072 21-DMA
*RES 3: $1.2053 Low Apr 27 now resistance
*RES 2: $1.2032 High May 2
*RES 1: $1.2019 200-DMA
*PRICE: $1.1916 @ 0930GMT
*SUP 1: $1.1871 Hourly support May 10 
*SUP 2: $1.1815 Low Dec 22 
*SUP 3: $1.1716 Monthly Low Dec 12 
*SUP 4: $1.1690 High Nov 3 now support
*COMMENTARY: The significance of the $1.2019-53 resistance region where the
200-DMA is noted was confirmed Monday with the pair remaining capped ahead of
this region. Above $1.2053 is needed to shift initial focus back to
$1.2153-1.2294. Bears now look for a close below $1.1871 to see pressure back on
2018 lows. A close below 2018 lows is needed to reconfirm a bearish bias and
focus on $1.1690-1.1716.

To read the full story



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.