CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

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

Remains Below The 20-Day EMA

EURUSD TECHS
  • RES 4: 1.1821 High Sep 16
  • RES 3: 1.1752/55 Bear channel from Jun 1 high / High Sep 22
  • RES 2: 1.1708 50-day EMA
  • RES 1: 1.1627/40 20-day EMA / High Oct 4
  • PRICE: 1.1579 @ 06:06 BST Oct 18
  • SUP 1: 1.1524 Low Oct 12 and the bear trigger
  • SUP 2: 1.1493 50.0% retracement of the Mar '20 - Jan '21 bull phase
  • SUP 3: 1.1469 1.236 proj of the Jan 6 - Mar 31 - May 25 price swing
  • SUP 4: 1.1412 Bear channel base drawn from the Jun 1 high

EURUSD is trading above recent lows. Attention is on resistance at the 20-day EMA that intersects at 1.1627 today. A break is required to signal scope for a stronger recovery however, short-term gains would be considered corrective with a broader bearish trend condition still intact. A price sequence of lower lows and lower highs and bearish moving average conditions both highlight a downtrend. The bear trigger is unchanged at 1.1524, Oct 12 low.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign 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.