Free Trial

Decline Reaches Stg0.9119.......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Decline Reaches Stg0.9119 Before Seeing A Recovery
*RES 4: Stg0.9271 Broken 8 week support line
*RES 3: Stg0.9227/38 Sep 4, Aug 31 highs
*RES 2: Stg0.9213 Sep 5 high
*RES 1: Stg0.9203 Intraday high
*PRICE: Stg0.9186 @1540GMT
*SUP 1: Stg0.9140/50 Hourly support
*SUP 2: Stg0.9119 Intraday low
*SUP 3: Stg0.9100 1.618 swing Stg0.9149-Stg0.9226, 1% vol
*SUP 4: Stg0.9091 38.2% Fibo of Stg0.8743-Stg0.9306
*COMMENTARY* Broke the upper 1% volatility band and the 4 month bull channel top
last week but the rally was halted just below the equality rise target at
Stg0.9310. The subsequent pullback, aided by a 'Doji' candle close, has breached
the 8 week support line and also the key near term support at Stg0.9190.
Sustained loss here would concern now and open potential for a further fall
towards next key Stg0.9100-Stg0.9091. Resistance Stg0.9203-Stg0.9213.

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.