Free Trial

(M18) First Swing Target At.....>

US EURODOLLAR TECHS
US EURODOLLAR TECHS: (M18) First Swing Target At 97.625 Under Pressure Today
*RES 4: 97.775 Mar 6 high
*RES 3: 97.740 Mar 27-28 highs 
*RES 2: 97.715/720 Apr 2 high, 6 month falling res line
*RES 1: 97.685/690 Hourly resistance
*PRICE: 97.620 @0947GMT
*SUP 1: 97.615/625 Intraday low, 1.618 swing of 97.700-97.820
*SUP 2: 97.585 Jun 29 2015 low
*SUP 3: 97.560 1.618 swing of 97.630-97.740
*SUP 4: 97.515 50% Fibo of 95.835/99.200
*COMMENTARY* Has continued to fall, this week the first swing target at 97.625
is under pressure today. Any lower and not much is currently evident ahead of
the Jun 2015 low at 97.585 and more importantly the second swing target at
97.560. As a consequence, initial resistance has fallen to 97.685-97.690 but no
real respite is likely to be forthcoming, until such time as the 6 month falling
resistance line, currently at 97.720 is broken.

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.