MNI BRIEF: US May Existing Home Sales Pace Falls 0.7% To 4.11M

MNI INTERVIEW2: Uninsured Bank Deposits Still Vulnerable-Bair

CANADA APR RETAILS +0.7%, MATCHING FORECAST, PRIOR -0.3%

MNI BRIEF: China Hopes EU To Ease Frictions Via Negotiations

MNI: PBOC Net Injects CNY8 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1196 Fri; -1.41% Y/Y

MNI: BAKER HUGHES US RIG COUNT 588; OIL RIGS 485; GAS RIGS 98

EZ/UK Bond Supply Calendar: EU Auction, BoE APF Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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

Price Signal Summary - EURUSD Trend Needle Continues To Point North

OUTLOOK
  • In FX, the trend outlook in EURUSD remains bullish and the pair is trading closer to its recent highs. Sights are on 1.1005, Aug 11 high and 1.1065, the Aug 10 high and a key resistance. MA studies are in a bull-mode set-up, highlighting positive market sentiment. Note that the recent recovery has resulted in the 14-day RSI crossing 70, highlighting an overbought reading. A corrective pullback would unwind this condition. Initial support is 1.0825, Nov 17 low.
  • The trend outlook in GBPUSD remains bullish and the pair has again traded to a fresh short-term cycle high. This week’s gains have resulted in a break of 1.2506, the Nov 14 high. The move higher confirms a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. Sights are on 1.2589, 50.0% of the Jul 14 - Oct 4 bear leg. On the downside, initial firm support to watch has been defined at 1.2374, the Nov 17 low.
  • USDJPY continues to trade above this week’s low. Tuesday’s price pattern - a dragonfly doji candle - highlights a potential reversal and the end of the recent corrective move down. If correct, it signals scope for a rally that would expose key resistance at 151.95, the Oct 21 2022 high. On the downside, a break of Tuesday's 147.15 low, would cancel the pattern and instead expose 146.29, trendline support drawn from the Mar 24 low.
Homepagemarkets-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.