MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

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

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

Price Signal Summary - Corrective Pullback In EURUSD

OUTLOOK
  • In FX, the EURUSD trend conditions remain bullish, however, the pair has started the week on a softer note with resistance at 1.0479 intact, the Nov 15 high. A move lower is considered corrective and this is allowing a recent overbought condition to unwind. Next support lies at 1.0198, the Sep 12 high. 1.0479 is the bull trigger and key resistance.
  • The GBPUSD trend condition remains bullish but short-term signals highlight an overbought condition. Last week’s gains resulted in a print above the upper band of the 3.0% 10-dma envelope, before pulling back. A deeper retracement would be considered corrective. 1.2028 is the trigger for a resumption of gains. Firm support is at 1.1533, the 50-day EMA.
  • USDJPY remains bearish and short-term gains are considered corrective. A resumption of weakness would open 137.37, the Aug 29 low. The pair has pierced 138.64, 61.8% of the Aug 2 - Oct 21 bull leg. A clear break of this key Fibonacci retracement would reinforce bearish conditions. The 50-day EMA at 143.81 remains a key short-term resistance.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange 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.