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Free AccessDoji Patterns, A Warning To.....>
EURO-STERLING TECHS: Doji Patterns, A Warning To Bulls
*RES 4: 0.8869 High Oct 11
*RES 3: 0.8787 Low Sep 20 and former breakout point
*RES 2: 0.8751 High Oct 15 and key near-term resistance
*RES 1: 0.8717 High Oct 16
*PRICE: 0.8604 @ 09:41 GMT Oct 21
*SUP 1: 0.8600 Round number support
*SUP 2: 0.8576 Low Oct 17
*SUP 3: 0.8558 Low May 8
*SUP 4: 0.8491 Low May 6 and major support
EURGBP maintains a bearish outlook. The 0.8600 support was breached Thursday but
the market managed to retrace some losses, ending that day unchanged. In candle
terms the price pattern Thursday is long-legged doji which also occurred
Wednesday. This is an early sign the cross may be basing. A convincing breach of
resistance at 0.8751 is required to reinforce this. Until then, the trend
remains down with scope for 0.8491, May 6 low.
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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.