MNI: PBOC Net Drains CNY139 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1710 Weds; -1.55% Y/Y

MNI China Press Digest Feb 12: Consumers, Autos, FDI

MNI BRIEF: Fed's Powell - Neutral Rate Has Risen Meaningfully

MNI BRIEF: Fed Would Use QE Only When Rates At Zero - Powell

MNI BRIEF: Fed's Hammack Says Rate Hike Not In Base Case

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: USDA: 2024/2025 CORN PRODUCTION EST 14.87B BSL

EZ/UK Bond Supply Calendar: France Syndication "Near Future"

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OUTLOOK: Price Signal Summary - EURUSD Resistance Is At The 50-Day EMA

OUTLOOK
CEEMEABulletUKMarketsFixed Income BulletsForeign Exchange Bullets
  • In FX, EURUSD has pulled back from its recent highs but for now, remains in a short-term bull cycle - a correction. The pair has pierced the 50-day EMA, at 1.0459. A clear break of the average would strengthen short-term bullish conditions and signal scope for a continuation higher near-term. Sights are on 1.0574, 38.2% of the Sep 25 - Jan 13 bear leg. Initial support to watch is 1.0392, the 20-day EMA. A move through the EMA would signal a possible reversal.
  • A bull cycle in GBPUSD remains in play and the pair is trading closer to its recent highs. The 20-day EMA has been breached and attention is on the 50-day EMA, at 1.2517 and an important resistance. Clearance of the average would highlight a stronger bull cycle. Medium-term trend signals are unchanged, they remain bearish. A reversal lower would refocus attention on 1.2100, the Jan 10 low and bear trigger. First support to watch is 1.2392, the 20-day EMA.
  • USDJPY is trading closer to its recent lows. The primary trend condition remains bullish, however, Monday’s move down highlights a stronger bear threat. The pair has breached the 50-day EMA and a trendline drawn from the Sep 16 ‘24 low. A resumption of weakness would open 152.55, 61.8% of the Dec 3 - Jan 10 bull leg. Initial firm resistance is at 156.75, the Jan 23 high. Clearance of this level would be a bullish development.
236 words

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.
  • In FX, EURUSD has pulled back from its recent highs but for now, remains in a short-term bull cycle - a correction. The pair has pierced the 50-day EMA, at 1.0459. A clear break of the average would strengthen short-term bullish conditions and signal scope for a continuation higher near-term. Sights are on 1.0574, 38.2% of the Sep 25 - Jan 13 bear leg. Initial support to watch is 1.0392, the 20-day EMA. A move through the EMA would signal a possible reversal.
  • A bull cycle in GBPUSD remains in play and the pair is trading closer to its recent highs. The 20-day EMA has been breached and attention is on the 50-day EMA, at 1.2517 and an important resistance. Clearance of the average would highlight a stronger bull cycle. Medium-term trend signals are unchanged, they remain bearish. A reversal lower would refocus attention on 1.2100, the Jan 10 low and bear trigger. First support to watch is 1.2392, the 20-day EMA.
  • USDJPY is trading closer to its recent lows. The primary trend condition remains bullish, however, Monday’s move down highlights a stronger bear threat. The pair has breached the 50-day EMA and a trendline drawn from the Sep 16 ‘24 low. A resumption of weakness would open 152.55, 61.8% of the Dec 3 - Jan 10 bull leg. Initial firm resistance is at 156.75, the Jan 23 high. Clearance of this level would be a bullish development.