Free Trial

Directional Parameters Intact.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Directional Parameters Intact
*RES 3: 1.1353 High Jun 16
*RES 2: 1.1349 High Jun 23 and key resistance
*RES 1: 1.1288 High Jun 29
*PRICE: 1.1247 @ 17:07 BST Jun 30
*SUP 1: 1.1191 Low Jun 25
*SUP 2: 1.1168 Low Jun 19 and the bear trigger
*SUP 3: 1.1163 High Mar 30
EURUSD reversed early losses to finish flat/minor positive Tuesday. The pair
continues to trade within its key directional parameters. We mentioned last week
that price needs to hold above 1.1168, Jun 19 low to maintain a bullish outlook.
A break would be bearish. On the upside, the bull trigger is 1.1349. Clearance
of this resistance would remove any bearish concerns. Note, Friday's price
pattern is a doji candle, signalling a potential base and provides the bull camp
with some support.

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.