Free Trial

Focus Returns To $1.2092-1.2153...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Focus Returns To $1.2092-1.2153
*RES 4: $1.2555 2018 High Feb 16
*RES 3: $1.2446 High Mar 8
*RES 2: $1.2364 Alternating support/resistance
*RES 1: $1.2322 Hourly resistance Mar 8
*PRICE: $1.2308 @ 0530GMT
*SUP 1: $1.2251 Hourly support Mar 2 
*SUP 2: $1.2223 Hourly resistance Mar 1 now support 
*SUP 3: $1.2153 Low Mar 1 
*SUP 4: $1.2092 High Jan 4 now support
*COMMENTARY: The pair continues to stall on approach to the weekly bear channel
top ($1.2640) off 2008 highs and looks offered. The close below $1.2320 sees
focus return to the $1.2092-1.2153 support region. Resistance layers left in the
wake add to bearish confidence. Bulls now need a close above $1.2446 to
reconfirm focus on $1.2555-1.2640 where 2018 highs and the LT bear channel top
are situated.

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.