Free Trial

(U17) 112.130/140 Resistance...........>

SCHATZ TECHS
SCHATZ TECHS: (U17) 112.130/140 Resistance Currently Blocks Further Rise
*RES 4: 112.230 Jun 12 high
*RES 3: 112.180 Jun 14 high, 0.1% volatility band  
*RES 2: 112.140 4 month falling resistance line
*RES 1: 112.130 76.4% Fibo of 112.230-111.81, Aug 1-2 highs
*PRICE: 112.100 @1518GMT
*SUP 1: 112.050/060 Hourly support
*SUP 2: 112.020 Jul 28 low
*SUP 3: 111.980 Jul 13 high, now support
*SUP 4: 111.910 Jul 19, 20 lows
*COMMENTARY* Resistance from 112.030 has been breached as has the 61.8% Fibo
retrace level at 112.070. With the subsequent move above 112.090 the next upside
markers to note are now situated between the 112.130/112.140 area. Any higher
and the  upper 0.1% volatility band has joined the Jun 14 high at 112.180. In
the meantime, support moves up to 112.060/112.020 and ideally the latter now
holds, if further rally is to be achieved at this juncture.

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.