Free Trial

No Change As Consolidation........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: No Change As Consolidation Continues Beneath $1.1620-$1.1645
*RES 4: $1.1688 Hourly high Jun 14
*RES 3: $1.1645 Jun 19 high
*RES 2: $1.1620 Initial pullback low Jun 19, now resistance
*RES 1: $1.1600/05 Jun 20 high, hourly resistance
*PRICE: $1.1549 @0819GMT 
*SUP 1: $1.1510/31 May 29, Jun 19 lows
*SUP 2: $1.1480 1.618 swing $1.1543-$1.1645
*SUP 3: $1.1448 50% Fibo of $1.0340-$1.2556
*SUP 4: $1.1428 2% volatility band
*COMMENTARY* A combination of the Jun 7 bearish 'Shooting Star' candle close and
last week the upper 1% volatility band, have conspired to send us down and back
towards the year's previous $1.1510 low. The current consolidation looks like a
4th wave, potentially ahead of another push lower, below $1.1510 would target
$1.1480-$1.1448 next. Meanwhile, $1.1600-$1.1620 provides resistance, above
$1.1645 would allow a higher correction of losses from $1.1840-$1.1852.

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.