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MNI BRIEF: UK Borrowing, Debt On Downward Path - OBR Forecasts

MNI China Daily Summary: Wednesday, Nov 22

(RPT)MNI INTERVIEW:Spending Remains Too Hot For BOC-Ex Adviser

US EIA: CRUDE OIL STOCKS EX SPR +8.7M TO 448.1M NOV 17 WK

MNI: US JOBLESS CLAIMS -24K TO 209K IN NOV 18 WK

MNI:US OCT DURABLE NEW ORDERS -5.4%; EX-TRANSPORTATION +0.0%

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

MNI BRIEF:Macklem-Fiscal Policy Turning Unhelpful On CPI Fight

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

Outlook Remains Bearish

EURUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 1.0862 50.0% retracement of the Jul 18 - Oct 3 bear leg
  • RES 3: 1.0809 High Sep 4
  • RES 2: 1.0764 38.2% retracement of the Jul 18 - Oct 3 bear leg
  • RES 1: 1.0694/0737 High Oct 24 / High Sep 20
  • PRICE: 1.0599 @ 06:04 GMT Nov 2
  • SUP 1: 1.0517/0496 Low Nov 1/ 13
  • SUP 2: 1.0448 Low Oct 03 and the bear trigger
  • SUP 3: 1.0406 50.0% retracement of the Sep ‘22 - Jul ‘23 bull leg
  • SUP 4: 1.0374 2.0% 10-dma envelope

EURUSD remains below Tuesday’s high. The outlook is bearish and short-term gains are considered corrective. The move lower last week has reinforced a bearish theme - the Oct 24 price pattern is a bearish engulfing candle, a strong reversal signal. A resumption of weakness would open 1.0496, the Oct 13 low. The key support and bear trigger lies at 1.0448, Oct 3 low. 1.0694, the Oct 24 high, is key resistance.

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  • RES 4: 1.0862 50.0% retracement of the Jul 18 - Oct 3 bear leg
  • RES 3: 1.0809 High Sep 4
  • RES 2: 1.0764 38.2% retracement of the Jul 18 - Oct 3 bear leg
  • RES 1: 1.0694/0737 High Oct 24 / High Sep 20
  • PRICE: 1.0599 @ 06:04 GMT Nov 2
  • SUP 1: 1.0517/0496 Low Nov 1/ 13
  • SUP 2: 1.0448 Low Oct 03 and the bear trigger
  • SUP 3: 1.0406 50.0% retracement of the Sep ‘22 - Jul ‘23 bull leg
  • SUP 4: 1.0374 2.0% 10-dma envelope

EURUSD remains below Tuesday’s high. The outlook is bearish and short-term gains are considered corrective. The move lower last week has reinforced a bearish theme - the Oct 24 price pattern is a bearish engulfing candle, a strong reversal signal. A resumption of weakness would open 1.0496, the Oct 13 low. The key support and bear trigger lies at 1.0448, Oct 3 low. 1.0694, the Oct 24 high, is key resistance.