Bearish tone continues for eurodollar

Just a quick follow up to my recent eurodollar post where I highlighted that a confluence of technical signals on the daily chart were likely to cause problems for the pair. This has indeed transpired with yesterday’s failure to take out the R4 Camarilla level at 1.2386 has seen the pair slide down to 1.2275 at time of writing.

And with the USD pushing higher, and the DXY moving off the key 90 price point this will take eurodollar down to test 1.2260, which is the Camarilla R2 level on the daily chart.

By Anna Coulling

About Anna 2008 Articles
Hi – my name is Anna Coulling and I am a full time currency, commodities and equities trader. I have been involved in both trading and investing for over fifteen years and have traded many different financial instruments, from options and futures to stocks and commodities. I write and publish articles ( mostly for free ) for UK and international publications on a wide variety of financial issues, and in particular I enjoy helping others learn how to invest and trade.

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