MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Price Signal Summary - EURUSD Channel Support Remains Exposed

OUTLOOK
  • In FX, EURUSD traded higher Wednesday resulting in a print above 1.0926, the 50-day EMA. However, the pair has failed to hold on to this week's highs and reversed lower yesterday. A continuation would refocus attention on the key support at 1.0780, the base of a bull channel drawn from the Mar 15 low and a pivot point. A clear channel breakout would strengthen bearish conditions and open 1.0733, Jun 12 low. Clearance of the 50-day EMA would be bullish.
  • GBPUSD traded higher Wednesday and this resulted in a print above 1.2703, the 20-day EMA. The break higher exposes key resistance at 1.2819, the Aug 10 high. The trend outlook is bearish and short-term gains are considered corrective. The recent break of support at 1.2621, the Aug 14 low and 1.2591, the Jun 29 low, confirms a resumption of the downtrend. The bear trigger is at 1.2548, the Aug 25 low.
  • USDJPY has pulled back from its recent highs - the move lower is considered corrective. The uptrend remains intact and this week’s fresh cycle high has reinforced bullish conditions. The focus is on 147.49, a Fibonacci projection. A break would open 148.40, the Nov 4 2022 high. Note that moving average studies remain in a bull mode condition, reflecting current positive market sentiment. The first key support to watch lies at 145.06, the 20-day EMA.
Foreign Exchange BulletsForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income Bullets
Foreign Exchange BulletsForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income Bullets

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.