MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI BRIEF: RBA Details Hypothetical Monetary Policy Paths

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI: UK DEC GFK CONSUMER CONFIDENCE INDEX -17

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

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 Remains Above Support At The 50-Day EMA

OUTLOOK
  • In FX, EURUSD is firmer this week but remains below last week’s high of 1.1012 (Jun 22). The latest pullback is considered corrective - for now. Key support to watch is at 1.0849, the 50-day EMA. A clear break of this average would strengthen a bearish threat and signal scope for a deeper pullback, opening 1.0804, the Jun 15 low and 1.0733, the Jun 12 low. Key resistance and the bull trigger is 1.1012. A break would resume the recent bull cycle.
  • The primary uptrend in GBPUSD remains intact, however, a corrective cycle is still in play. The recent move lower is allowing an overbought trend condition to unwind. Support to watch lies at 1.2651, the 20-day EMA. The recent break of 1.2680, the May 10 high and a bull trigger, strengthens a bullish condition and opens 1.2849 next, the 0.618 projection of the Mar 8 - May 10 - May 25 price swing. Clearance of this level would confirm a resumption of the uptrend.
  • Another bullish session in USDJPY yesterday and the pair touched a new multi-month high. Price is approaching 144.40 - the 1.382 projection of the Jan 16 - Mar 8 - Mar 24 price swing and 145.04 further out, resistance at the 2.0% 10-dma envelope. Technically, USDJPY is now the most overbought (as per the 14-day RSI) since mid-October. Key short-term support is at 141.22 the 20-day EMA. A break would suggest scope for a deeper correction.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeCommoditiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeCommoditiesBulletMarketsFixed 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.