DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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

TECHS: Price Signal Summary - EURGBP Edges Lower

MARKET INSIGHT
  • In equities, E-mini S&P futures pushed higher yesterday to a fresh all-time high of 3862.25. The uptrend remains intact and the focus is on 3900.00. Support is at 3788.50, Jan 25 low.
  • EUROSTOXX50 key support is at 3524.63, Jan 5 low and the 50-day EMA
  • In the FX space, recent gains in EURUSD are still considered corrective. Key levels to watch are:
    • 1.2054 support, Jan 18 low and trigger for 1.2011, Sep 1 high.
    • Resistance is at 1.2230, Jan 11 high.
  • USDJPY focus is still on the bear channel top drawn off the Mar 24 high at 103.95 today. A break is required to signal a reversal. Also watch resistance at 104.40, the Nov 11 high.
  • EURGBP is softer this morning and remains bearish. Last week's breach of 0.8867 and 0.8861, the Nov 23 and Nov 11 lows reinforces this theme. Scope is seen for a move to 0.8808, May 13, 2020 low.
  • On the commodity front, levels to watch in Gold are resistance at $1875.2, Jan 21 high and support at $1832.6, Jan 20 low. Oil contracts remain above support. Brent (H1) support to watch is $54.48, Jan 22 low and WTI (H1) support lies at $51.44, the low from Jan 22.
  • In the FI space:
    • Bunds (H1) tested key resistance yesterday at 177.96, Jan 14 high. A break opens 178.37, Jan 4 high.
    • Key resistance in Gilts (H1) at the 20- and 50-day EMAs has been breached. A resumption of gains would open 135.04, 61.8% retracement of the Jan 4 - 12 downleg.
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEmerging Market NewsBulletMarketsFixed 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.