Free Trial

December Low At Stg0.8689.......>

EURO-STERLING TECHS
EURO-STERLING TECHS: December Low At Stg0.8689 Survives Pressure
*RES 4: Stg0.8802 Jan 18 low, now resistance
*RES 3: Stg0.8796 Jan 23 high
*RES 2: Stg0.8770 Hourly resistance
*RES 1: Stg0.8762 Jan 22 low, now resistance
*PRICE: Stg0.8749 @1715GMT
*SUP 1: Stg0.8687/89 Intraday, Dec 8 low
*SUP 2: Stg0.8628 2% volatility band
*SUP 3: Stg0.8547 76.4% Fibo of Stg0.8313-Stg0.9306
*SUP 4: Stg0.8543 1.618 swing of Stg0.8689-Stg0.8925
*COMMENTARY* The fallout from this month's failure at Stg0.8925 continues. Most
latterly the loss of Stg0.8744-Stg0.8737 support has again switched the focus
back on The Dec 8 low at Stg0.8689. While held around here, then look to
resistance from between Stg0.8730-35, back through here allows the chance of
further corrective gains toward Stg0.8762-Stg0.8770. Below Stg0.8689 and not
much ahead of the lower 2% volatility band.

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.