Free Trial

Powell Triggers Rally Through.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Powell Triggers Rally Through $1.13
Having failed to make any headway above $1.13 for much of the Wednesday session,
bulls were happy to see Fed's Powell tilt dovish, sending the rate comfortably
above the $1.13 mark ahead of the close. This shifts the near-term outlook
bullish and targets down trendline resistance from the September highs at 1.1407
and the 50% retracement of 1.0341-1.2555 at 1.1448. This would return focus to
the 50- and 100-dmas. To the downside, the Nov 13 ytd low/61.8% retracement from
0.8230-1.6038 at 1.1216/13 remains in play for now. A fall through here would
open the May 30 2017 low of 1.1110 as well as the 1.09 level.

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.