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Free AccessSwing Target At Stg0.8925.......>
EURO-STERLING TECHS: Swing Target At Stg0.8925 Caps And Correction Ensues
*RES 4: Stg0.8951 76.4% Fibo of Stg0.9032-Stg0.8689
*RES 3: Stg0.8925 1.618 swing Stg0.8891-Stg0.8836, Jan 4 hi
*RES 2: Stg0.8900 Congestion area Jan 5
*RES 1: Stg0.8870 Hourly resistance
*PRICE: Stg0.8829 @1740GMT
*SUP 1: Stg0.8805/10 Congestion area mid December
*SUP 2: Stg0.8779/84 61.8% of Stg0.8689-Stg0.8925, 1% vol
*SUP 3: Stg0.8761 Dec 14 low
*SUP 4: Stg0.8745 76.4% Fibo of Stg0.8689-Stg0.8925
*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.
This presenting the potential bar to a return towards Stg0.8951 Fibo resistance.
In the meantime, nearest support from Stg0.8880-Stg0.8865 has been lost,
followed by Stg0.8848-Stg0.8836 today. This leaving the downside vulnerable with
Stg0.8810-Stg0.8805 now protecting against a deeper correction.
To read the full story
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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.