register nowRegister now

Still Looking For Gains


Remains Vulnerable


Recent Highs Remain Intact


Holding Onto Gains


Bearish Risk

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

  • In FX, EURGBP is weaker and has cleared a key support between 0.8867 and 0.8861, marking the Nov 23 and Nov 11 lows. This paves the way for a move towards 0.8800 and 0.8784.

  • EURUSD is seen maintaining a bearish short-term theme. Support levels to watch are:
    • 1.2054, Jan 18 low where a break would open 1.2011, Sep 1 high.
    • Resistance is at 1.2171 20-day EM
  • USDJPY attention remains on key resistance at 104.13, the bear channel top drawn off the Mar 24 high. A break would highlight a reversal. 104.40, Nov 11 high is the bull trigger.
    • Watch support too at 103.53 too, Jan 13 low. A break would represent a bearish development.
    • A bullish engulfing candle in EURJPY yesterday highlights a possible bullish reversal and perhaps a signal of Yen weakness near-term.
  • On the commodity front, Gold remains vulnerable despite this week's recovery. Watch support at $1804.7, Monday's low and resistance at $1869.9, the 50-day EMA. Oil contracts have held above support. Brent (H1) support to watch is at $53.75, the 20-day EMA and WTI (G1) support lies at $51.50, Jan 11 low.
  • In the FI space:
    • Bunds (H1) are off recent highs but the outlook is bullish. Support is at 176.96, 61.8% of the Jan 12 - 14 rally.
    • Gilts (H1) resistance is seen at 134.58/66, the 20- and 50-day EMAs. A bearish outlook dominates while activity remains below these EMA levels.