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Free AccessKey Near Term Support Has.......>
EURO-STERLING TECHS: Key Near Term Support Has Survived This Week
*RES 4: Stg0.9143 76.4% of Stg0.9402-Stg0.8305, Oct 10 high
*RES 3: Stg0.9108 1% volatility band
*RES 2: Stg0.9091 1.618 swing of Stg0.9055-Stg0.8996
*RES 1: Stg0.9075 Aug 10 high
*PRICE: Stg0.9067 @0942GMT
*SUP 1: Stg0.9008/09 Aug 10, Aug 9 lows, 4 week support line
*SUP 2: Stg0.8989/96 Aug 2 high, Aug 4 low
*SUP 3: Stg0.8969 Jul 28 high, now support
*SUP 4: Stg0.8935/40 Congestion lows Jul 28-Aug 2
*COMMENTARY* The brief move above the upper 1% volatility band on Tuesday was
rewarded with an attempt on the next upside objective, the swing target at
Stg0.9091. The subsequent loss of Stg0.9040 has seen pressure on support around
Stg0.9010 with Stg0.8989-Stg0.8996 below. This area should now stay intact, if a
deeper correction of gains from Stg0.8891 is to be avoided. Resistance now from
Thursday's Stg0.9075 high.
To read the full story
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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.