Free Trial

Rally Losing Momentum EUR/USD.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Rally Losing Momentum
EUR/USD failed to hold the 1.1600 level Thursday as the week's rally continues
to run out of steam. Bulls look for a move above the 1.1628/38 (week's high and
50% retracement level of recent decline) to challenge 1.1656, which is seen as
the next hurdle before the outlook can shift positive. A move below 1.1564 would
trigger a renewed bearish signal, returning the focus to the downside. A close
below Monday's 1.1530 low would add weight to the bearish scenario. A break
below the YTD low of 1.1509 resumes the longer-term downtrend.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.