Free Trial

(H18) Squeezing Lower 98.240....>

US EURODOLLAR TECHS: (H18) Squeezing Lower 98.240 Ahead Of Dual 98.200 Support 
*RES 4: 98.365 Oct 30 high
*RES 3: 98.345 Oct 6 low, now resistance
*RES 2: 98.325 Nov 15 high
*RES 1: 98.295/305 Hourly resistance
*PRICE: 98.245 @1240GMT
*SUP 1: 98.240 Hourly support
*SUP 2: 98.200 Jan 26 high, Mar 15 low
*SUP 3: 98.185 61.8% Fibo of 97.535-98.240
*SUP 4: 98.165 Mar 30 2015 high, now support
*COMMENTARY* Some movement last month, support from 98.290 the 76.4% Fibo
retrace level gave way. Has now lost support from the previous Mar 16 base at
98.260. Some overshoot to 98.240 can be allowed but any lower and the dual
support from 98.200 comes back into view. To provide any relief, then an initial
move back above 98.295-98.305 is needed before thoughts can turn to a better
98.325-98.365 recovery.

To read the full story


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.