Free Trial

Correcting Recent Losses..........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Correcting Recent Losses $1.1984 Next Resistance
*RES 4: $1.2070 Aug 29 high
*RES 3: $1.2045 1% volatility band
*RES 2: $1.2009 Initial pullback low Aug 29,
*RES 1: $1.1984 Aug 30 high
*PRICE: $1.1950 @0820GMT 
*SUP 1: $1.1875/90 Hourly support
*SUP 2: $1.1849 Sep 1 low
*SUP 3: $1.1818/23 61.8% of $1.1662-$1.2070, Aug 31 low
*SUP 4: $1.1773 Aug 25 low
*COMMENTARY* Having found support from above the key $1.1823-$1.1818 area last
week, we have begun a gradual correction of losses seen since the Aug 29 high at
$1.2070. This has crept it's way back up towards the intervening $1.1984 high,
via some minor resistance around $1.1950. As a result, support also rises,
initially to $1.1890-$1.1875, with $1.1849 then seen as the protection to that
important $1.1823-$1.1818. Above $1.1984 and look to $1.2009-$1.2045 next.

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.