Free Trial

(Z18) Bears Need Close Below 55-DMA...>

EURIBOR TECHS
EURIBOR TECHS: (Z18) Bears Need Close Below 55-DMA
*RES 4: 100.320 - Repeated Daily highs Dec 
*RES 3: 100.310 - 2018 High Repeatedly May 
*RES 2: 100.305 - Repeated daily lows Apr/May now resistance 
*RES 1: 100.300 - Highs June 14 & 15, Repeated highs July
*PREVIOUS CLOSE: 100.300
*SUP 1: 100.295 - Repeated daily lows July
*SUP 2: 100.285 - 55-DMA
*SUP 3: 100.275 - Lows June 21-22 & 25
*SUP 4: 100.265 - High June 11 now support
*COMMENTARY: The 100.300-305 resistance remains key. Bulls still need a close
above this region to confirm a bullish bias and initially target 100.320. Daily
studies correcting from O/B is less than ideal for bulls. Bears still need a
close below the 55-DMA to ease bullish pressure and below 100.265 to confirm a
break of the 200-DMA (100.274), shifting immediate focus back to 100.245 and
overall focus back to 2018 lows.

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.