Free Trial

Weekly Bear Chanel Top Lurking....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Weekly Bear Chanel Top Lurking Above
*RES 4: $1.2569 Monthly High Dec 16 2014
*RES 3: $1.2536 2018 High Jan 25
*RES 2: $1.2522 High Feb 1
*RES 1: $1.2498 Hourly resistance Feb 2
*PRICE: $1.2453 @ 0210GMT
*SUP 1: $1.2407 Low Feb 2 
*SUP 2: $1.2378 Hourly support Jan 30 
*SUP 3: $1.2322 High Jan 17 now support 
*SUP 4: $1.2268 21-DMA
*COMMENTARY: The $1.2322 support confirmed significance with bulls taking
comfort in the bounce Tuesday. The recovery has remained capped ahead of 2018
highs and remains a little heavy. Bears need a close below $1.2322 to hint at a
correction back to $1.2092-1.2156 with below the 21-DMA to add weight to their
case. Bulls need a close above $1.2536 to add support to the case for a tests of
the LT weekly bear channel top ($1.2670).

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.