Free Trial

Recovery Stalls Above 1.1600......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Recovery Stalls Above 1.1600
The EURUSD recovery briefly traded above 1.1600 but failed to gain traction.
Bulls look for a hold above 1.1628/38 (Intraday high and 50% retracement level
of recent decline) to challenge the 1.1656 area, a break above would still be
required to shift the outlook positive. A move below 1.1564 triggers a renewed
bearish signal, returning the focus to the downside. A close below 1.1525/30
adds weight to the bearish scenario. A break below the YTD low of 1.1509 resumes
the longer-term downtrend.

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.