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Free Access(H18) Bears Focused On 97.820...>
US EURODOLLAR TECHS: (H18) Bears Focused On 97.820
*RES 4: 98.160 Highs Jan 22-24
*RES 3: 98.145 High Feb 6
*RES 2: 98.126 21-DMA
*RES 1: 98.100 Lows Feb 2 & 5 now resistance
*PRICE: 98.045 @ 0930GMT
*SUP 1: 98.045 2018 Low Feb 8
*SUP 2: 97.820 Weekly Low Nov 2008
*SUP 3: 97.580 Weekly Low Nov 2008
*SUP 4: 97.480 Weekly High Oct 2008 now support
*COMMENTARY: The contract remains heavy with bears now focused on the 97.820
support last seen in 2008 with a close below to confirm focus on tests of the
97.480-580 support region. Bulls now look for a close above 98.100 to ease
bearish pressure and above 98.160 to shift focus back to 98.179-190 where an
bear channel top and 55-DMA are located.
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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.