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Free AccessRally Reaches 76.4% Fibo..........>
EURO-DOLLAR TECHS: Rally Reaches 76.4% Fibo Retrace Level
*RES 4: $1.1961 Nov 27 high
*RES 3: $1.1940 Dec 1 high, 1.618 swing $1.1863-$1.1738
*RES 2: $1.1920 1% volatility band
*RES 1: $1.1902/03 Dec 20 high, 76.4% Fibo of $1.1961-$1.1717
*PRICE: $1.1881 @0936GMT
*SUP 1: $1.1845/55 Hourly support
*SUP 2: $1.1829 Dec 20 low
*SUP 3: $1.1805/15 Congestion area Dec 14-19
*SUP 4: $1.1775/77 Hourly base Dec 18, Dec 19 low
*COMMENTARY* Found the strength to move through $1.1863-$1.1868 resistance on
Wednesday, the rally heading straight for the next upside barrier, the 76.4%
Fibo retrace level at $1.1903. This and the upper 1% volatility band are now the
potential dampeners to a $1.1940-$1.1961 return. Daily studies remain
enthusiastic, so support from $1.1855-$.1845 initially and $1.1829 below are
anticipated to hold any setbacks and therefore prevent a deeper correction.
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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.