Free Trial

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

US EURODOLLAR TECHS
US EURODOLLAR TECHS: (Z17) 61.8% Fibo Support From 98.455 Now The Focus
*RES 4: 98.580 Sep 14 high
*RES 3: 98.555 Aug 25 low, now resistance
*RES 2: 98.525 Sep 25, Sep 28 highs
*RES 1: 98.510 Oct 13 high
*PRICE: 98.470 @1245GMT
*SUP 1: 98.455 61.8% Fibo of 98.335-98.655
*SUP 2: 98.410 76.4% Fibo of 98.335-98.655
*SUP 3: 98.360 Dec 15 low
*SUP 4: 98.335 Mar15 low
*COMMENTARY* Some movement last week, if only slight so far. 98.470 support has
finally given way, allowing the focus to switch to 98.455. This the 61.8% Fibo
retrace level of the 98.335-98.655 rally, seen between March and May earlier
this year. Resistance in the meantime hasn't really changed, while 98.455
remains intact, then it will take a move back above 98.510 to alter things. Loss
of 98.455 however, will trigger a deeper 98.410 fall.

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.