Free Trial

Dragged Lower Again *RES 4:.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Dragged Lower Again
*RES 4: 1.1014 High Feb 6
*RES 3: 1.0958 High Feb 10
*RES 2: 1.0926 High Feb 12 and key near-term resistance
*RES 1: 1.0889 High Feb 13
*PRICE: 1.0839 @ 04:57 GMT Feb 17
*SUP 1: 1.0827 Low Feb 14
*SUP 2: 1.0803 1.618 projection of Jan 16 - Jan 29 decline from Feb 3 high
*SUP 3: 1.0777 1.764 projection of Jan 16 - Jan 29 decline from Feb 3 high
*SUP 4: 1.0700 2.0% lower 10-dma envelope
EURUSD struggled again Friday as bearish pressure continues to drag the pair
lower with a strong impulsive sell-off still dominating. The former key support
at 1.0879, Oct 1 low was breached last week further reinforcing bearish
conditions with the focus on 1.0803 next, a Fibonacci projection. We continue to
stress that although the downtrend remains intact, the trend is steep and the
risk of a sharp reversal increases each day. Initial resistance is at 1.0889.

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.