Technical Analysis and Outlook:
This week's eurodollar price action was lower, and the current trading pattern suggests the designated target of the Inner Currency Dip is 1.064 in the making, as indicated in last week's daily chart analysis, with the possibility of falling further to Mean Sup 1.054. We also anticipate a quick rebound to Mean Res 1.075 with the potential to reach Mean Res 1.082 upon completion of its main target.
This week's eurodollar price action was lower, and the current trading pattern suggests the designated target of the Inner Currency Dip is 1.064 in the making, as indicated in last week's daily chart analysis, with the possibility of falling further to Mean Sup 1.054. We also anticipate a quick rebound to Mean Res 1.075 with the potential to reach Mean Res 1.082 upon completion of its main target.