MNI BRIEF: Japan Q1 GDP To Fall 0.4% Q/Q; Annualised -1.6%

MNI BRIEF: Canada Opposition Leader Removed From Legislature

CANADA Q1 FLASH ANNUALIZED GDP +2.5%, +0.6% QOQ

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

KOF Points Towards Ongoing Robustness But No Strong Boost

US Treasury Auction Calendar

Food Drives Stronger Retail Sales In March, Outlook Still Weak

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Resumes Broader Bear Cycle

EURUSD TECHS
  • RES 4: 1.1909 High Jul 30 / Sep 03 and a key resistance
  • RES 3: 1.1824/46 1.0% 10-dma envelope / High Sep 14
  • RES 2: 1.1755/87 High Sep 22 / 50-day EMA
  • RES 1: 1.1664/1738 Low Aug 20 / 20-day EMA
  • PRICE: 1.1594 @ 16:11 BST Sep 30
  • SUP 1: 1.1568 Low Sep 30
  • 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: 1.1371 Low Jul 16

EURUSD is bearish. The pair extended losses through key support Wednesday at 1.1664, Aug 20 low, slipping to fresh 2021 lows. The move lower confirms a resumption of the broader downtrend that has been in place since May 25 and maintains a price sequence of lower lows and lower highs. The focus is on 1.1493 next, a Fibonacci retracement. Resistance is at 1.1755, Sep 22 high. Clearance of this level is required to signal a S/T base.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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.