Free Trial

Heading North For Now *RES 4:.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Heading North For Now
*RES 4: 1.1008/14 High Feb 6 / Trendline resistance drawn off the Dec 31 high
*RES 3: 1.0981 Low Nov 29
*RES 2: 1.0958 High Feb 10
*RES 1: 1.0926 High Feb 12 and key near-term resistance
*PRICE: 1.0912 @ 10:47 GMT Feb 27
*SUP 1: 1.0830 Low Feb 25
*SUP 2: 1.0805 Low Feb 24
*SUP 3: 1.0778 Low Jan 20 and key support
*SUP 4: 1.0727 1.0% 10-dma envelope
EURUSD maintains its current positive tone. Although the outlook is bullish for
now, it is still too early to tell whether a significant trend low has been
defined. Short-term momentum studies are bullish and the recent bullish
engulfing reversal on Feb 21 continues to provide a positive signal. 1.0778, the
Feb 20 is a key support with initial support at 1.0830, Feb 25 low. Attention is
on 1.0926 next, the Feb 12 high, a break would open 1.0981, the Nov 29 low.

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.