Free Trial

(H18) Bears Need Close Below 21-DMA...>

EURIBOR TECHS
EURIBOR TECHS: (H18) Bears Need Close Below 21-DMA
*RES 4: 100.375 - High Oct 4 
*RES 3: 100.360 - High Oct 6 
*RES 2: 100.330 - High Oct 19 
*RES 1: 100.310 - 2017 High Aug 11 - 21
*PREVIOUS CLOSE: 100.310
*SUP 1: 100.300 - Low Aug 11 - 16
*SUP 2: 100.298 - 21-DMA
*SUP 3: 100.285 - 55-DMA
*SUP 4: 100.275 - Alternating daily support/resistance
*COMMENTARY: The support at 100.285 provided the base for a rally and fresh 2017
& 10mth highs with bullish focus currently on the 100.330-360 region last seen
in Oct 2016. Sideways trading defined last week. Layers of support remain with
bears needing a close below the 21-DMA to ease bullish pressure and below the
55-DMA to signal a correction that initially targets the 100-DMA (100.270). The
Bollinger top (100.314) remains the key concern for bulls.

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.