Free Trial

Overall Focus On Nov Low *RES.....>

EURO-DOLLAR TECHS: Overall Focus On Nov Low
*RES 4: $1.2019 200-DMA
*RES 3: $1.1889 Alternating daily support/resistance
*RES 2: $1.1838 High May 17
*RES 1: $1.1749 Hourly support May 23 now resistance
*PRICE: $1.1705 @ 0430GMT
*SUP 1: $1.1674 2018 Low May 23 
*SUP 2: $1.1654 Bollinger band base 
*SUP 3: $1.1624 High Nov 6 now support 
*SUP 4: $1.1552 Monthly Low Nov 7
*COMMENTARY: Bears retain overall focus on tests of Nov lows at $1.1552
following fresh 2018 lows Wednesday. The Bollinger base is the key concern for
bears with potential to limit follow through. Layers of resistance are
accumulating and adding weight to the bearish case. Bulls now need a close above
$1.1749 to gain breathing room and above the 21-DMA ($1.1894) to shift initial
focus to $1.2019-1.2053 where the 200-DMA is noted.

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.