Free Trial

Pulling Back After Last.........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Pulling Back After Last Friday's 'Gravestone Doji' Close 
*RES 4: Stg0.8911/18 1.618 swing Stg0.8837-Stg0.8717, 1% vol
*RES 3: Stg0.8886/91 76.4% Stg0.8968-Stg0.8620, Jun 29 high
*RES 2: Stg0.8869 Jul 2 high
*RES 1: Stg0.8855 Hourly resistance
*PRICE: Stg0.8849 @0730GMT
*SUP 1: Stg0.8797/01 Jun 27, Jul 4 lows, Jun 20 high
*SUP 2: Stg0.8784 61.8% Fibo of Stg0.8718-Stg0.8891
*SUP 3: Stg0.8759 76.4% Fibo of Stg0.8718-Stg0.8891
*SUP 4: Stg0.8741 1% volatility band
*COMMENTARY* Stg0.8891 has been the top of the rally so far, just through the
76.4% Fibo retrace level at Stg0.8886 but shy of the upper 1% volatility band
and the swing target at Stg0.8911. All of these beneath the 8 month bear channel
top, which currently resides at Stg0.8920. The subsequent slip has been
encouraged by the almost 'Gravestone Doji' like candle close last Friday.
Support from between Stg0.8801-Stg0.8797 now protecting Stg0.8784-Stg0.8759.

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.