Free Trial

Double Daily Bottom In Play.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Double Daily Bottom In Play
*RES 4: $1.1820 High June 11
*RES 3: $1.1723 Low June 13 now resistance
*RES 2: $1.1669 21-DMA
*RES 1: $1.1660 Hourly resistance June 14
*PRICE: $1.1602 @ 2130GMT
*SUP 1: $1.1574 Hourly support June 21 
*SUP 2: $1.1506 2018 Low May 29 
*SUP 3: $1.1470 Low July 18 2017 
*SUP 4: $1.1406 200-WMA
*COMMENTARY: The dip Thursday leaves a double daily bottom in place around the
2018 low with the Bollinger base ($1.1509) remaining a concern for bears. Bears
need a close below 2018 lows to shift immediate focus to $1.1311 although 100
($1.1429) & 200 ($1.1406) may support along the way. Bulls continue to look for
a close above $1.1660 to gain breathing room and above $1.1723 to shift focus
back to $1.1854-94.

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.