Eurodollar Futures 9-5

Jun18 Eurodollar Slip Stems Corrective Rebound

Posted on 5/9/2017 6:45 AM by Dave Toth

While overnight’s slip below 24-Apr’s 98.28 low is barely noticeable, it nonetheless renders the prior couple weeks’ recovery attempt to 03-May’s 98.355 high in the Jun18 contract as a 3-wave and thus corrective affair that confirms at least the intermediate-term trend as down.  Per such, 98.36 is considered our new short-term risk parameter from which non-bullish decisions like long-covers and cautious bearish punts can now be objectively based and managed.  IF something broader to the bear side lies ahead, it would be incumbent on the market to now sustain losses below this level.Eurodollar Future Jun 2018

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