Free Trial

Risking Correction To.............>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Risking Correction To $1.1690-1.1732
*RES 4: $1.1732 Daily Bear channel top 
*RES 3: $1.1725 Low Oct 23 now resistance 
*RES 2: $1.1722 100-DMA 
*RES 1: $1.1690 High Nov 3
*PRICE: $1.1642 @ 0240GMT
*SUP 1: $1.1638 Hourly support Nov 9 & 10 
*SUP 2: $1.1622 Hourly support Nov 9 
*SUP 3: $1.1579 Low Nov 8 
*SUP 4: $1.1554 Low Nov 7
*COMMENTARY: The recovery from the week's low so far saw a close above $1.1624,
easing immediate bearish pressure and increasing the risk of a correction back
to layers of resistance $1.1690-1.1732 where the bear channel top is located.
Bulls continue to look for a close above the channel top to shift focus to
$1.1810-80 where the 55-DMA is situated. Bears now need a close back below
$1.1622 to return immediate pressure to $1.1554.

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.