MNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors

MNI BRIEF: German Insolvency Rate Slows, 2025 Pickup Expected

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.14B BSL

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

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

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 Trend Outlook Remains Bearish

OUTLOOK
  • In FX, the trend needle in EURUSD continues to point south and short-term gains are considered corrective. Last week’s breach of 1.0912, the Aug 3 low, confirmed a resumption of the bear cycle that started Jul 18 and opens 1.0834 next, the Jul 6 low and a key level. Price is also trading lower inside a bull channel drawn from the Mar 15 low. The base lies at 1.0763. Initial firm resistance is seen at 1.0950, the 20-day EMA.
  • GBPUSD is firmer but continues to trade inside a range. The trend condition is bearish and 1.2621, the Aug 14 low, marks the short-term bear trigger. A break would confirm a resumption of the downtrend and open 1.2591, the Jun 29 low and an important support. On the upside, key short-term resistance is unchanged at 1.2819, the Aug 19 high. Clearance of this level would signal a possible reversal.
  • The uptrend in USDJPY remains intact and short-term pullbacks are considered corrective. Last week’s gains resulted in a move above 145.07, the Jun 30 high. This confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. MA studies are in a bull mode condition, highlighting an uptrend. The focus is on 147.49, the 2.00 projection of the Jul 14 - 21 - 28 price swing. Initial firm support is 143.99, the 20-day EMA.
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.