Free Trial

Back Above Stg0.8940 Would......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Back Above Stg0.8940 Would Aid Near Term Recovery Hopes
*RES 4: Stg0.9016/22 1% vol band, Oct 20 high
*RES 3: Stg0.8994 Hourly high Oct 20
*RES 2: Stg0.8980 Hourly recovery high Oct 20
*RES 1: Stg0.8940 Hourly resistance
*PRICE: Stg0.8927 @0920GMT
*SUP 1: Stg0.8886/97 Oct 23, Oct 18 lows
*SUP 2: Stg0.8855/56 61.8% Stg0.8746-Stg0.9032, Oct 16 low
*SUP 3: Stg0.8837 1% volatility band
*SUP 4: Stg0.8813 76.4% Fibo of Stg0.8746-Stg0.9032
*COMMENTARY* Had been building for another assault on the key
Stg0.9026-Stg0.9032 area but has been thwarted by the upper 1% volatility band,
now at Stg0.9016 by time today. The subsequent fall below the Oct 18 high at
Stg0.8947 has triggered a correction, the Oct 18 low at Stg0.8897 coming under
pressure briefly on Monday, a low of Stg0.8886 before a bounce. Will need back
above Stg0.8940 for near term respite, else downside pressure will return.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.