Technical Analysis and Outlook:
The Eurodollar sank during the trading duration of the week and fulfilled our long-awaited retest of the completed Inner Currency Dip 1.1200, and Major Key Sup 1.1175 flagged several weeks ago. The current action means that the currency will get more volatile and, therefore, may run towards the Mean Res 1.1200 handle and resume its downward path to expended Inner Currency Dip 1.1100.
The Eurodollar sank during the trading duration of the week and fulfilled our long-awaited retest of the completed Inner Currency Dip 1.1200, and Major Key Sup 1.1175 flagged several weeks ago. The current action means that the currency will get more volatile and, therefore, may run towards the Mean Res 1.1200 handle and resume its downward path to expended Inner Currency Dip 1.1100.