Free Trial

Pressure On Key DMAs *RES 4:......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Pressure On Key DMAs
*RES 4: $1.2052 High Jan 8
*RES 3: $1.2009 Hourly resistance Jan 8a
*RES 2: $1.1982 Hourly resistance Jan 8
*RES 1: $1.1950 Hourly resistance Jan 10
*PRICE: $1.1940 @ 0530GMT
*SUP 1: $1.1911 21-DMA 
*SUP 2: $1.1849 Daily Bull channel base (off Nov low) 
*SUP 3: $1.1829 100-DMA 
*SUP 4: $1.1806 55-DMA
*COMMENTARY: Continued hesitation ahead of 2017 highs has taken its toll with
the sell-off Monday leaving the pair looking heavy and seeing focus on support
layers $1.1808-1.1911 where key DMAs and the bull channel base are situated.
Layers of resistance accumulating and daily studies correcting from O/B adds
weight to the bearish case. Bulls now need a close above $1.2009 to return focus
to 2017 highs.

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.