Free Trial

Downside Still the Focus After....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Downside Still the Focus
After bouncing off the 1.1250 level twice yesterday, EURUSD has consolidated
just under 1.1300 today. However, the focus remains on the downside with the Nov
low at 1.1216 in sight. A break below here would trigger a potential bear flag,
strengthening the downtrend toward 1.1187 which represents the 61.8% retracement
of 1.0341-1.2555. Bulls need to clear the 50/100-dmas at 1.1391/03 to improve
the short-term outlook. A break of 1.15 would open down trendline resistance &
the Jan 31 high at 1.1501/14.

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.