Eurodollar has rebounded off its lows and is currently rallying in a rising channel. If the rally continues it will probably reach 1.2565. There is a possibility it might even reach strong resistance at 1.2600. A roll-over, on the other hand, would fall to the base of the channel at 1.2465, with a complete breakout from the channel targeting 1.2335.
Analysis prepared by:
Joaquin Monfort
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