Free Trial

Rally Challenges The Upper 1%...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Rally Challenges The Upper 1% Volatility Band
*RES 4: Stg0.9032 Oct 12 high
*RES 3: Stg0.9013 Nov 15 high, 1.618 swing 0.8920-0.8771
*RES 2: Stg0.8981 Nov 28 high
*RES 1: Stg0.8968 Mar 7 high, 1% volatility band
*PRICE: Stg0.8929 @1004GMT
*SUP 1: Stg0.8905/15 Hourly support
*SUP 2: Stg0.8885 Mar 5 low
*SUP 3: Stg0.8864 Feb 22 high, now support
*SUP 4: Stg0.8844 Feb 27 high, now support
*COMMENTARY* Broke above the 76.4% Fibo retrace level at Stg0.8951 yesterday and
the upper 1% volatility band at Stg0.8968 was also challenged. Clearly sustained
move through here will have the Nov 28 high at Stg0.8981 in its sights next,
ahead of stronger resistance from Stg0.9013. In the interim, support comes from
above Stg0.8915-Stg0.8905. A loss of the latter would caution and weaken the
immediate upside argument.

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.