Free Trial

Pressure Returns To The.........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Pressure Returns To The Downside And On Stg0.8855-Stg0.8830
*RES 4: Stg0.8994 Hourly high Oct 20
*RES 3: Stg0.8976/80 Oct 24 high, hourly recovery high Oct 20
*RES 2: Stg0.8957 Intraday high
*RES 1: Stg0.8925/35 Hourly resistance
*PRICE: Stg0.8870 @1635GMT
*SUP 1: Stg0.8869 Intraday low
*SUP 2: Stg0.8855/56 61.8% of Stg0.8746-Stg0.9032, Oct 16 low
*SUP 3: Stg0.8830 Swing Stg0.8886-Stg0.8976, 1% vol band
*SUP 4: Stg0.8813 76.4% Fibo of Stg0.8746-Stg0.9032
*COMMENTARY* Rallies have continued to falter within the key near term
Stg0.8970-Stg0.8994 resistance area. Failure to break the latter has had a
negative near term impact. The subsequent move back below Stg0.8900-Stg0.8895
has seen the recent Stg0.8880 range base come back under pressure. This sees the
Stg0.8855-Stg0.8830 area come back into focus and protecting the Stg0.8813 Fibo
level. In the interim, Stg0.8925-Stg0.8957 provides resistance.

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.