Free Trial

Continues Bounce From Above 3.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Continues Bounce From Above 3 Month Bull Channel Base 
*RES 4: $1.2475 1% volatility band
*RES 3: $1.2460 Congestion area Jan 31-Feb 2
*RES 2: $1.2406/09 Feb 2 low, Feb 7 high
*RES 1: $1.2392 Intraday high
*PRICE: $1.2360 @0935GMT 
*SUP 1: $1.2330/35 Hourly support
*SUP 2: $1.2298 Initial high Feb 12, now support
*SUP 3: $1.2248 3 month bull channel base projection
*SUP 4: $1.2227 1% volatility band
*COMMENTARY* Has found support over the last few days from above the 3 month
bull channel base projection, at $1.2248 by time today. This now the protection
to a renewed downside push, the Feb 9 low at $1.2206 then ahead of the 38.2%
Fibo retrace level at $1.2162. Meanwhile, the subsequent bounce has broken above
$1.2370-75 today, although the failure to test $1.2406-$1.2409 is an initial
concern. Main resistance $1.2460-$1.2475. Nearest support now $1.2330-$1.2298.

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.