Free Trial

(M18) Correction Tests Upper Edge Of...>

SCHATZ TECHS: (M18) Correction Tests Upper Edge Of 111.860-111.830 Support
*RES 4: 112.030 0.1% volatility band
*RES 3: 112.020 Dec 19 low, now resistance
*RES 2: 111.990 Mar 28 high
*RES 1: 111.940/960 Hourly resistance
*PRICE: 111.900 @0735GMT
*SUP 1: 111.860 Mar 19, Apr 10 lows
*SUP 2: 111.830 Mar 5 high, Mar 14 low
*SUP 3: 111.810 0.1% volatility band
*SUP 4: 111.790 Congestion area Mar 1-Mar 8
*COMMENTARY* Has so far this month been unable to mount another challenge to the
Mar 28 high at 111.990, thereby leaving the next target, the Dec 19 low at
112.020 untroubled as yet. Consequently, became overbought and last Tuesday lost
support from the 111.910-111.890 area. Below the latter cautions near term and
suggests scope for a further 111.860-111.830 fall. Resistance 111.940-111.960.
Above 112.020 and the 0.1% volatility band at 112.030 ahead of  112.050.

To read the full story



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.