Free Trial

(M18) 21-DMA Support Remains....>

US EURODOLLAR TECHS
US EURODOLLAR TECHS: (M18) 21-DMA Support Remains Key
*RES 4: 97.820 Monthly high Mar 2
*RES 3: 97.774 100-DMA
*RES 2: 97.730 High May 15
*RES 1: 97.708 Low May 15 now resistance
*PRICE: 97.680 @ 0930GMT
*SUP 1: 97.660 Alternating daily support/resistance
*SUP 2: 97.650 High May 10 now support
*SUP 3: 97.645 21-DMA
*SUP 4: 97.615 High May 7 now support
*COMMENTARY: The lack of topside follow through Tuesday left the contract
looking heavy and flirting with the 55-DMA (97.671). Layers of support remain
97.645-660 with bears needing a close below the 21-DMA to end bullish hopes and
shifts focus back to 97.595 2018 lows. Bulls now need a close above 97.740 to
reconfirm a bullish bias and focus on the 100-DMA. Correcting O/B studies adds
weight to the bearish case.

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.