Free Trial

Still Trading Below The 4.......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Still Trading Below The 4 month Rising Support Line
*RES 4: Stg0.9149 Sep 1 low, now resistance
*RES 3: Stg0.9119/22 Sep 7 low, Sep 11 high
*RES 2: Stg0.9091/94 Hourly highs Sep 11
*RES 1: Stg0.9062 Broken 4 month support line
*PRICE: Stg0.9023 @0935GMT
*SUP 1: Stg0.8982 Sep 12 low
*SUP 2: Stg0.8958 61.8% Fibo of Stg0.8743-Stg0.9306
*SUP 3: Stg0.8927/39 38.2% Stg0.8313-Stg0.9306, 2% vol band
*SUP 4: Stg0.8876/80 76.4% Stg0.8743-Stg0.9306, Jun 28 high
*COMMENTARY* The setback from last month's Stg0.9306 high broke below key
support from between Stg0.9100-Stg0.9091 on Monday and yesterday lost support
from the lower 1% volatility band and also the 4 month rising support line at
Stg0.9062. A low of Stg0.8982 seen so far, ahead of what looks a stronger area
between Stg0.8958-Stg0.8927. In the interim, resistance falls to
Stg0.9062-Stg0.9094, above the latter needed for respite.

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.