MNI BRIEF: Italy’s Inflation Seen Lower In '24 And '25 - BOI

BOC AFFIRMS QT IS SEEN ENDING SOMETIME IN 2025

MNI: BOC Says QE Was Worth The Risk But High Bar For A Repeat

MNI China Daily Summary: Thursday, June 13

MNI BRIEF: China Ready To Safeguard Interests After EU Tariffs

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

US EIA:NAT GAS STORAGE +74 BCF TO 2,974 BCF JUN 07 WK

EZ/UK Bond Supply Calendar: Slovakia, Belgium, BoE APF Monday

May CPI Preview: Eurovision and Taylor Swift Add Uncertainty To Services

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

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

MNI US Morning FX Technical Analysis 

29 December 2017
By Kyle Shortland
Click below for today's MNI US Morning FX Technical Analysis Report -
http://tinyurl.com/jz5y37x
EURO-DOLLAR TECHS: Above $1.1961 Targets 2017 High
*RES 4: $1.2371 Low Dec 11 2014 now resistance
*RES 3: $1.2254 High Dec 25 2014
*RES 2: $1.2092 2017 High Sept 8
*RES 1: $1.2033 High Sept 20
*PRICE: $1.1981 @ 1030GMT
*SUP 1: $1.1961 High Nov 27 now support 
*SUP 2: $1.1910 High Dec 27 now support 
*SUP 3: $1.1879 Hourly support Dec 27 
*SUP 4: $1.1810 100-DMA
*COMMENTARY: Bulls still need a close above $1.1961 to confirm focus on tests of
2017 highs and fresh 2017 highs to target $1.2254. Bulls take comfort in support
emerging on dips with bears needing a close below $1.1879 to ease bullish
pressure and below the 100-DMA to confirm pressure back on $1.1690. A close
below $1.1690 remains needed to shift focus to $1.1472-1.1552 where the 200-DMA
($1.1494) and Nov low are situated.
     CABLE TECHS: Bulls Targeting 2017 High
*RES 4: $1.3656 2017 High Sept 20 
*RES 3: $1.3595 High Sept 22 
*RES 2: $1.3549 High Nov 30 
*RES 1: $1.3519 High Dec 8
*PRICE: $1.3503 @ 1030GMT
*SUP 1: $1.3473 Hourly breakout level Dec 29 
*SUP 2: $1.3429 High Dec 27 now support 
*SUP 3: $1.3388 Hourly support Dec 27 
*SUP 4: $1.3368 Low Dec 27
*COMMENTARY: Bulls now look for a close above $1.3549 to add support to their
case for a move targeting 2017 highs. Since closing above the 21-DMA the pair
has gained support with bears now needing a close below $1.3388 to ease bullish
pressure and target a correction back to $1.3286-1.3329 where the 55-DMA
($1.3286) is located. Daily studies are well placed for gains.
     DOLLAR-YEN TECHS: Bears Focusing On Y110.83-111.98
*RES 4: Y114.07 High Nov 9 
*RES 3: Y113.74 High Dec 12 
*RES 2: Y113.44 High Dec 22 
*RES 1: Y113.13 Low Dec 26 now resistance
*PRICE: Y112.56 @ 1030GMT
*SUP 1: Y111.98 Low Dec 6 
*SUP 2: Y111.64 200-DMA 
*SUP 3: Y111.35 Low Nov 29 
*SUP 4: Y110.83 Monthly Low Nov 27
*COMMENTARY: Bears take comfort in consolidation below 21 & 55-DMAs and the bull
channel base. Bulls now need a close above Y113.13 to gain breathing room and
hint at a correction back to Y113.74-114.07. The marginal close below the 55-DMA
(Y112.94) confirmed a shift lower in focus with bears now targeting
Y110.83-111.98 where monthly lows, 100 & 200-DMAs are noted. Bears need a close
below Y110.83 to target 2017 lows (Y107.31).
     EURO-YEN TECHS: Y133.88 Support Remains Key
*RES 4: Y139.02 Monthly High Aug 2015
*RES 3: Y136.40 High Oct 21 2015
*RES 2: Y135.84 Low Oct 21 2015 now resistance
*RES 1: Y134.98 2017 High Dec 28
*PRICE: Y134.80 @ 1030GMT
*SUP 1: Y134.28 Hourly support Dec 27 
*SUP 2: Y133.88 Hourly support Dec 20 
*SUP 3: Y133.60 Hourly support Dec 19 
*SUP 4: Y133.11 Alternating hourly support/resistance
*COMMENTARY: Fresh 2017 & 2+ year highs continue, adding support  targeting
monthly highs Y139.02-141.05. The Bolli top (Y135.25) & O/B studies are key
concerns for bulls. Layers of support followed the pair higher with bears
needing a close below Y133.88 to ease bullish pressure and shift focus back to
the key Y132.03-132.72 support region where the 100-DMA and bull channel base
are noted. Immediate bullish focus is on Y135.84-136.40 while Y133.88 supports.
     EURO-STERLING TECHS: Gbp0.8826 & 100-DMA Key Levels
*RES 4: Gbp0.8981 High Nov 28 
*RES 3: Gbp0.8928 100-DMA 
*RES 2: Gbp0.8922 Low Nov 27 now resistance 
*RES 1: Gbp0.8893 High Dec 28
*PRICE: Gbp0.8870 @ 1030GMT
*SUP 1: Gbp0.8826 Low Dec 20 
*SUP 2: Gbp0.8780 Hourly support Dec 15 
*SUP 3: Gbp0.8759 Lows Dec 14 & 15 
*SUP 4: Gbp0.8736 Hourly resistance Dec 8 now support
*COMMENTARY: Despite trading above the 55-DMA (Gbp0.8862) the pair remains
capped ahead of the 100-DMA. Bulls still need a close above the 100-DMA to add
support to their case and confirm initial focus on Gbp0.8981-0.9048. O/B daily
studies looking to correct remain the key concern for bulls. Layers of support
remain with bears continuing to look for a close below Gbp0.8826 to shift
initial focus back to Gbp0.8690-0.8759.
     SPOT GOLD TECHS: Bulls Focused On $1306.1-1320.0
*RES 4: $1334.8 - High Sept 13 
*RES 3: $1320.0 - High Sept 18 
*RES 2: $1306.1 - Monthly High Oct 16 
*RES 1: $1299.1 - Monthly High Nov 27
*PRICE: $1296.9 @ 1030GMT
*SUP 1: $1286.8 - 100-DMA 
*SUP 2: $1281.5 - Low Dec 27 
*SUP 3: $1275.4 - 55-DMA 
*SUP 4: $1270.5 - 200-DMA
*COMMENTARY: The recovery from Dec lows has resulted in closes above the 55-DMA
and bear channel top with immediate focus now on $1306.1-1320.0 following the
break of $1289.5. O/B daily studies and the Bollinger top ($1297.8) are concerns
for bulls. Bears now need a close below the 100-DMA to ease immediate bullish
pressure and below the 21-DMA ($1266.4) to hint at a move back to Dec 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();
    

});