Free Trial

Triangle Support Breached.........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Triangle Support Breached
EURUSD is currently testing the lower boundary of the six week triangle
formation. Triangle support at 1.1602 has been slightly breached. A sustained
break below here, especially if confirmed by a close at the end of the week,
would be consistent with a resumption of the major bearish trend. Daily momentum
indicators have turned negative. The next downside target would be the 1.1509
level. To regain some near-term relief a move back above the 1.1671 level would
now be required, but overcoming 1.1746 has now become key to provide renewed
stability.

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.