MNI BRIEF: Inflation Risks Now Shifted To Downside-BOE Ramsden

MNI: Goolsbee Says Stalled Inflation Means Wait Before Moving

MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI US Morning FX Technical Analysis 

12 October 2017
By Kyle Shortland
Click below for today's MNI US Morning FX Technical Analysis Report -
http://tinyurl.com/jz5y37x
EURO-DOLLAR TECHS: Bear Channel Top Capping
*RES 4: $1.2092 2017 High Sept 8 
*RES 3: $1.2019 High Sept 20 
*RES 2: $1.1891 Hourly support Sept 21 now resistance 
*RES 1: $1.1879 Daily Bear channel top
*PRICE: $1.1861 @ 0930GMT
*SUP 1: $1.1831 Hourly resistance Oct 11 now support 
*SUP 2: $1.1795 Hourly support Oct 10 
*SUP 3: $1.1756 Hourly resistance Oct 9 now support 
*SUP 4: $1.1739 Hourly support Oct 10
*COMMENTARY: The break of the $1.1862 resistance has so far lacked follow
through with the pair capped by the daily bear channel top off 2017 highs. The
$1.1795-1.1831 support region is now key. Bears need a close below $1.1831 to
ease immediate bullish pressure and below $1.1795 to shift focus back to the
$1.1583-1.1661 region. Daily studies are well placed for a fresh leg higher with
bulls needing a close above $1.1891 to target $1.2019-92.
CABLE TECHS: Bullish Focus Shifts To 21-DMA
*RES 4: $1.3356 21-DMA 
*RES 3: $1.3343 Low Sept 28 now resistance 
*RES 2: $1.3297 Hourly resistance Oct 2 
*RES 1: $1.3264 Hourly resistance Oct 12
*PRICE: $1.3232 @ 0930GMT
*SUP 1: $1.3203 Hourly support Oct 11 
*SUP 2: $1.3172 Hourly support Oct 10 
*SUP 3: $1.3139 55-DMA 
*SUP 4: $1.3124 Hourly resistance Oct 9 now support
*COMMENTARY: The recovery from the dip back to the 100-DMA ($1.3025) has
received support from correcting O/S daily studies with bulls now focused on
$1.3343-56 where the 21-DMA is located. Correcting O/S studies add support to
the bullish case. Layers of support continue to build with bears needing a close
below $1.3172 to gain breathing room and below $1.3124 to confirm a break below
the 55-DMA and return focus to $1.2995-1.3024.
DOLLAR-YEN TECHS: Bulls Need Close Above Y112.89
*RES 4: Y113.44 High Oct 6 
*RES 3: Y113.18 Hourly support Oct 6 now resistance 
*RES 2: Y112.89 Hourly resistance Oct 6 
*RES 1: Y112.58 High Oct 11
*PRICE: Y112.32 @ 0930GMT
*SUP 1: Y112.20 21-DMA 
*SUP 2: Y111.82 200-DMA 
*SUP 3: Y111.48 Low Sept 25 
*SUP 4: Y111.11 100-DMA
*COMMENTARY: Bulls failed to capitalise on the bounce from 21 & 200-DMAs Tuesday
with pressure having returned to these supports. Bears now focus on the 200-DMA
with a close below needed to pressure Y111.48 and below this level to shift
focus to 55 (Y110.68) & 100 (111.11) DMAs. Below the 55-DMA hints at a move back
to 2017 lows with below Y109.52 to confirm. Bulls look for a close above Y112.89
to ease pressure on key supports and initially target Y113.44-70.
DOLLAR-CAD TECHS: Close Below Channel Base To Target C$1.2232
*RES 4: C$1.2665 - Daily Bull channel top 
*RES 3: C$1.2662 - High Aug 31 
*RES 2: C$1.2594 - High Oct 9 
*RES 1: C$1.2485 - Low Oct 10 now resistance
*PRICE: C$1.2455 @ 0930GMT
*SUP 1: C$1.2418 - Lows Sept 28 & 29 
*SUP 2: C$1.2412 - 21-DMA 
*SUP 3: C$1.2405 - Daily Bull channel base 
*SUP 4: C$1.2232 - Low Sept 20
*COMMENTARY: The pair remains heavy with pressure having returned to layers of
support C$1.2405-18 where the daily bull channel base and 21-DMA are situated.
Bears continue to look for a close below the daily bull channel base to end
bearish hopes and shift immediate focus to tests of the C$1.2232 Sept 20 low.
Momentum has corrected back to more neutral levels increasing the significance
of the supports. Bulls need a close above C$1.2485 to ease bearish pressure.
EURO-YEN TECHS: Y133.49 Resistance Remains Key
*RES 4: Y134.59 Monthly High Dec 4 2015
*RES 3: Y134.41 2017 High Sept 22
*RES 2: Y134.25 High Sept 25
*RES 1: Y133.49 Hourly resistance Sept 25 & Oct 12
*PRICE: Y133.20 @ 0930GMT
*SUP 1: Y133.03 Hourly resistance Oct 11 now support 
*SUP 2: Y132.78 21-DMA 
*SUP 3: Y132.44 Low Oct 11 
*SUP 4: Y132.23 Low Oct 10
*COMMENTARY: Pressure has returned to the key Y133.49 resistance with bulls
needing a close above to shift focus to Y134.25-59 where 2017 and monthly highs
are situated. Daily studies have room to move before O/B becomes an issue.
Initial support is noted at Y133.23 but bears look for a close below Y133.03 to
ease bullish pressure and hint at a move back to Y131.74 with below Y132.44 to
confirm.
EURO-STERLING TECHS: Close Below Gbp0.8948 To Ease Bullish Pressure
*RES 4: Gbp0.9045 High Sept 14
*RES 3: Gbp0.9013 55-DMA
*RES 2: Gbp0.8992 High Oct 6
*RES 1: Gbp0.8972 Hourly resistance Oct 11
*PRICE: Gbp0.8959 @ 0930GMT
*SUP 1: Gbp0.8948 Hourly resistance Oct 11 now support 
*SUP 2: Gbp0.8925 Low Oct 10 
*SUP 3: Gbp0.8906 Low Oct 9 
*SUP 4: Gbp0.8886 High Sept 22 now support
*COMMENTARY: Bulls have failed to capitalise on the close above Gbp0.8920 with
Gbp0.8992-0.9045 resistance key. Bulls need a close above Gbp0.9045 to confirm a
break of the 55-DMA, hint at a move back to Gbp0.8213-0.9306 and above Gbp0.9107
to confirm. Bears now look for a close below Gbp0.8948 to gain breathing room
and below the 21-DMA (Gbp0.8860) to end bearish hopes and target Gbp0.8717-57.
SPOT GOLD TECHS: 21-DMA Now Supporting
*RES 4: $1342.1 - Hourly support Sept 8 now resistance A 
*RES 3: $1334.8 - High Sept 13 
*RES 2: $1320.0 - High Sept 18 
*RES 1: $1313.6 - High Sept 26
*PRICE: $1295.6 @ 0930GMT
*SUP 1: $1284.5 - Low Oct 11 
*SUP 2: $1277.6 - Hourly resistance Oct 6 now support 
*SUP 3: $1270.7 - Hourly support Oct 6 
*SUP 4: $1266.3 - Hourly resistance Oct 6 now support
*COMMENTARY: The 21-DMA is currently supporting and providing the impetus for a
break above $1296.4 with bulls now looking for a close above to confirm a shift
in focus to $1313.6-1320.0. Bears now look for a close below the 21-DMA to ease
immediate bullish pressure whereas a close below $1284.5 is needed to add weight
to the case for a move back to $1260.5 Oct 5 lows.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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.

    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        window.dataLayer.push({
    'event' : 'logedout',
    'loggedOut' : 'loggedOut'
  });
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        (function appendPosts () {  
    var policyPosts = document.getElementsByClassName('policy-posts-wrapper')[0];
    var policyPostsMenu = document.querySelector('.policy-posts-span');
    policyPostsMenu.append(policyPosts);
    policyPosts.style.display = "block";
  
    var empolicyPosts = document.getElementsByClassName('em-policy-posts-wrapper')[0];
    var empolicyPostsMenu = document.querySelector('.em-policy-posts-span');
    empolicyPostsMenu.append(empolicyPosts);
    empolicyPosts.style.display = "block";

    var dataPosts = document.getElementsByClassName('data-posts-wrapper')[0];
    var dataPostsMenu = document.querySelector('.data-posts-span');
    dataPostsMenu.append(dataPosts);
    dataPosts.style.display = "block";
})();
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        document.querySelectorAll(".my-mni").forEach(function(item){
  item.href="/core/users/email_login/";
  item.innerHTML="Log In";
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        document.querySelector('.signup-form').addEventListener('submit', () => {
  window.dataLayer = window.dataLayer || [];
  dataLayer.push({
    'event' : 'submission_click',
    'event_category': "Sign Up Button Clicks",
     'event_label': "Posts" 
  });  
  
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        REBELMOUSE_STDLIB.createElementChangeListener('.signup-form.authentication--form',function(item){
  item.onsubmit=function(e){
    ga('b.send', 'event', {eventCategory: 'Signup', eventAction: 'CompletedForm', eventLabel:'pageTitle', eventValue:15});
    window.dataLayer = window.dataLayer || [];
    dataLayer.push({
      'event' : 'signup_click',
      'event_category': "Signup",
      'event_action': 'CompletedForm',
       'event_label': 'pageTitle',
      'event_value': 15
    });  
  }
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        document.querySelectorAll("img").forEach(function (img) {
    img.addEventListener("contextmenu", function (e) {
      return false;
    });
  });
  document
    .querySelector(".site-logo img")
    .addEventListener("contextmenu", function (e) {
      return true;
    });
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        document.querySelector('.signup-form').addEventListener('submit', () => {
  window.dataLayer = window.dataLayer || [];
  dataLayer.push({
    'event' : 'submission_click',
    'event_category': "Sign Up Button Clicks",
     'event_label': "Posts" 
  });  
  
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        REBELMOUSE_STDLIB.createElementChangeListener('.signup-form.authentication--form',function(item){
  item.onsubmit=function(e){
    ga('b.send', 'event', {eventCategory: 'Signup', eventAction: 'CompletedForm', eventLabel:'pageTitle', eventValue:15});
    window.dataLayer = window.dataLayer || [];
    dataLayer.push({
      'event' : 'signup_click',
      'event_category': "Signup",
      'event_action': 'CompletedForm',
       'event_label': 'pageTitle',
      'event_value': 15
    });  
  }
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        
  let posts = document.querySelectorAll(".all-content-wrapper .widget:not(.stream-story-processed)");
  window.check_story_posts(posts, "streamOfPosts");
    

});

window.REBELMOUSE_LOW_TASKS_QUEUE.push(function(){

    
        function populateInputsWithAPAPI(c) {
  document.querySelectorAll('.signup-form input[name="country"]').forEach(el => {
	el.setAttribute("value", c.country_name);
  });
  document.querySelectorAll('.signup-form .country_name').forEach(el => {
	el.setAttribute("value", c.country_name);
  });

  let country_code =
    c && c.country_code ? c.country_code.toLowerCase() : "auto";
  document.querySelectorAll('.signup-form .country_code').forEach(el => {
	el.setAttribute("value", country_code);
  });
  document.querySelectorAll('.signup-form .selected_country').forEach(el => {
	el.setAttribute("value", country_code);
  });
}

const fetch = function (err, res) {
  var r = new XMLHttpRequest();
  r.open("GET", err, !0),
    (r.responseType = "json"),
    (r.onload = function () {
      var err = r.status;
      res(200 === err ? null : err, r.response);
    }),
    r.send();
};

function setupCountry() {
  if (window.preventDuplicateExec) {
    return;
  }
  window.preventDuplicateExec = true;

  window.REBELMOUSE_STDLIB.onElementInViewport({
    threshold: 0,
    firstOnly: true,
    oneTime: true,
    selector: ".signup-form",
    onIntersect: (entry) => {
      // when you need to get access to that data you call it in that way:
      let ipapiData = localStorage.getItem("ipapiData");
      if (!ipapiData) {
        fetch("https://ipapi.co/json/", function (err, ipData) {
          console.log("populating inputs with data from IP API ");
          localStorage.setItem("ipapiData", JSON.stringify(ipData));
          populateInputsWithAPAPI(ipData);
        });
      } else {
        console.log(
          "populating inputs with data from IP API data stored in local storage"
        );
        populateInputsWithAPAPI(JSON.parse(ipapiData));
      }
    },
  });
}

setupCountry();
    

});

window.REBELMOUSE_LOW_TASKS_QUEUE.push(function(){

    
        /*
const sidebar = document.querySelector('.left-sidebar-container');
const stickyContent = document.querySelector('.sticky-content');
const siteContent = document.querySelector('.all-posts-stream');
if (sidebar && stickyContent && siteContent) {
  if (siteContent.clientHeight > sidebar.clientHeight) {
    console.log('grater -> ', siteContent.clientHeight + ' > ' + sidebar.clientHeight);
    stickyContent.style.height = (siteContent.clientHeight - sidebar.clientHeight) + 'px';
  }
}
*/
    

});

window.REBELMOUSE_LOW_TASKS_QUEUE.push(function(){

    
        function populateInputsWithAPAPI(c) {
  document.querySelectorAll('.signup-form input[name="country"]').forEach(el => {
	el.setAttribute("value", c.country_name);
  });
  document.querySelectorAll('.signup-form .country_name').forEach(el => {
	el.setAttribute("value", c.country_name);
  });

  let country_code =
    c && c.country_code ? c.country_code.toLowerCase() : "auto";
  document.querySelectorAll('.signup-form .country_code').forEach(el => {
	el.setAttribute("value", country_code);
  });
  document.querySelectorAll('.signup-form .selected_country').forEach(el => {
	el.setAttribute("value", country_code);
  });
}

const fetch = function (err, res) {
  var r = new XMLHttpRequest();
  r.open("GET", err, !0),
    (r.responseType = "json"),
    (r.onload = function () {
      var err = r.status;
      res(200 === err ? null : err, r.response);
    }),
    r.send();
};

function setupCountry() {
  if (window.preventDuplicateExec) {
    return;
  }
  window.preventDuplicateExec = true;

  window.REBELMOUSE_STDLIB.onElementInViewport({
    threshold: 0,
    firstOnly: true,
    oneTime: true,
    selector: ".signup-form",
    onIntersect: (entry) => {
      // when you need to get access to that data you call it in that way:
      let ipapiData = localStorage.getItem("ipapiData");
      if (!ipapiData) {
        fetch("https://ipapi.co/json/", function (err, ipData) {
          console.log("populating inputs with data from IP API ");
          localStorage.setItem("ipapiData", JSON.stringify(ipData));
          populateInputsWithAPAPI(ipData);
        });
      } else {
        console.log(
          "populating inputs with data from IP API data stored in local storage"
        );
        populateInputsWithAPAPI(JSON.parse(ipapiData));
      }
    },
  });
}

setupCountry();
    

});