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Stg0.8840 Becomes Pivotal To....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Stg0.8840 Becomes Pivotal To Near Term Direction
*RES 4: Stg0.8981 Nov 28 high
*RES 3: Stg0.8951/54 76.4% of 0.9032-0.8689, 1% vol band
*RES 2: Stg0.8925/30 Jan 4, Jan 12 highs
*RES 1: Stg0.8910/13 Jan 15, Jan 11 highs
*PRICE: Stg0.8847 @1700GMT
*SUP 1: Stg0.8840 Hourly low Jan 10
*SUP 2: Stg0.8827 Initial recovery high Jan 10, now support
*SUP 3: Stg0.8806/09 50% of Stg0.8689-Stg0.8925, Jan 9 low
*SUP 4: Stg0.8779 61.8% Fibo of Stg0.8689-Stg0.8925
*COMMENTARY* Having held into the key Stg0.8805-Stg0.8810 support area last
week, began a recovery which saw an extension through Stg0.8873-Stg0.8900. Once
again ran into resistance from our old friend Stg0.8925-Stg0.8930 and it is
through here that is still required before thoughts can turn to the higher
Stg0.8951-Stg0.8981 region. Support now comes from Stg0.8840, loss will leave
downside vulnerable to further correction.

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