Free Trial

(Z17) 61.8% Fibo Support At.....>

US EURODOLLAR TECHS
US EURODOLLAR TECHS: (Z17) 61.8% Fibo Support At 98.455 Remains Under Pressure
*RES 4: 98.555 Aug 25 low, now resistance
*RES 3: 98.525 Sep 25, Sep 28 highs
*RES 2: 98.510 Oct 13 high
*RES 1: 98.485/495 Hourly resistance
*PRICE: 98.450 @0905GMT
*SUP 1: 98.445 Nov 21, 22 lows
*SUP 2: 98.410 76.4% Fibo of 98.335-98.655
*SUP 3: 98.360 Dec 15 low
*SUP 4: 98.335 Mar 15 low
*COMMENTARY* Some movement this month, 98.470 support has given way, allowing
the focus to switch to 98.455. This the 61.8% Fibo retrace of the 98.335-98.655
rally, seen between March and May earlier this year. This remains under
pressure, lows of 98.445 last week, sustained break will see potential for a
deeper 98.410 fall next. Resistance in the meantime, falls slightly to
98.485-98.495 but it will still take a move back above 98.510 to alter things. 

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.