Free Trial

Correcting Back To................>

EURO-DOLLAR TECHS: Correcting Back To $1.1750-1.1838
*RES 4: $1.1889 Alternating daily support/resistance
*RES 3: $1.1838 High May 17
*RES 2: $1.1795 21-DMA
*RES 1: $1.1750 High May 24
*PRICE: $1.1662 @ 2130GMT
*SUP 1: $1.1643 Alternating support/resistance 
*SUP 2: $1.1594 Hourly support May 30 
*SUP 3: $1.1549 Hourly resistance May 30 now support 
*SUP 4: $1.1506 2018 Low May 29
*COMMENTARY: O/S daily studies appear to be impacting with a rally from ahead of
2018 lows. The close above $1.1643 eases bearish pressure with bulls now looking
for a correction back to $1.1750-1.1838. Bulls need a close above $1.1838 to
confirm a break of the 21-DMA and target $1.2015-53 where the 200-DMA is noted.
Bears now look for a close below $1.1594 to return immediate pressure to 2018

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.