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FED Reverse Repo Operation


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CSX 3Pt Issuance Extends to 46Y


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*RES 4: 0.9184 61.8% Fibonacci retracement of the Mar - Apr decline
*RES 3: 0.9176 High Jun 29 and the bull trigger
*RES 2: 0.9145 High Jun 30
*RES 1: 0.9113 High Jul 14
*PRICE: 0.9085 @ 10:20 BST Jul 16
*SUP 1: 0.9028 Low Jul 14
*SUP 2: 0.8938 Low Jul 10 and the key near-term support
*SUP 3: 0.8912 Low Jun 16
*SUP 4: 0.8883 Low Jun 10
EURGBP maintains a bullish stance and has this week traded above the 0.9100
handle. Japanese candle patterns have recently highlighted a reversal. Monday's
activity is a bullish engulfing pattern and follows Friday's doji candle.
Together they signalled a reversal off Friday's 0.8938 low. Also, the recovery
has occurred around the 50-day EMA signalling reinforcing the importance of the
price patterns. The focus is on 0.9145. Jun 30 high. Key support is at 0.8938.

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