Technical Analysis and Outlook:
Eurodollar attempted to settle above our Mean Res 1.005. The European currency must close above 1.000 to have a possibility to generate sustainable upside momentum. However, as the currency market continues to trade under the 1.000 threshold, bears will have a fair chance to push it to and under Key Sup 0.9940 and completed Inner Currency Dip 0.9914, and further continue to Outer Currency Dip 0.9765.
Eurodollar attempted to settle above our Mean Res 1.005. The European currency must close above 1.000 to have a possibility to generate sustainable upside momentum. However, as the currency market continues to trade under the 1.000 threshold, bears will have a fair chance to push it to and under Key Sup 0.9940 and completed Inner Currency Dip 0.9914, and further continue to Outer Currency Dip 0.9765.