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.

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