Free Trial

Recovery Has....................>

EURO-STERLING TECHS
EURO-STERLING TECHS: Recovery Has Stg0.8880-Stg0.8900 resistance
*RES 4: Stg0.8951/55 76.4% of 0.9032-0.8689, 1% vol band
*RES 3: Stg0.8925 1.618 swing Stg0.8891-Stg0.8836, Jan 4 hi
*RES 2: Stg0.8900 Congestion area Jan 5
*RES 1: Stg0.8880 Jan 4 low, now resistance
*PRICE: Stg0.8868 @1313GMT
*SUP 1: Stg0.8825/35 Hourly support
*SUP 2: Stg0.8805/10 Congestion area mid December
*SUP 3: Stg0.8775/79 1% vol band, 61.8% Stg0.8689-Stg0.8925 
*SUP 4: Stg0.8761 Dec 14 low
*COMMENTARY* Rally moved above initial Stg0.8900-Stg0.8916 resistance last week
but was eventually curtailed by the slightly higher swing target at Stg0.8925.
In the meantime, nearest support from Stg0.8880-Stg0.8865 was lost, followed by
Stg0.8848-Stg0.8836 on Monday. This leaving the downside vulnerable with
Stg0.8810-Stg0.8805 now the protection against a deeper correction of gains from
last month's Stg0.8689 base. Resistance now Stg0.8880-Stg0.8900.

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.