CANADA MAY RETAILS -0.8% VS FORECAST -0.6%, PRIOR +0.6%

MNI: Canada June Retails Fall And May Biggest Drop In A Year

MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 477; GAS RIGS 103

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

TECHS: Price Signal Summary - EURUSD Approaches Its Bear Channel Resistance

MARKET INSIGHT
  • In the equity space, S&P E-minis ended last week on a firm note and a fresh trend high of 4186.75. The outlook remains bullish with attention on 4195.50, 1.618 projection of the Feb 1 - Feb 16 - Mar 4 price swing. Key support is at 4110.50, Apr 21 low.
  • In the FX world, EURUSD traded higher Friday to resume the current uptrend. Key near-term resistance is at 1.2119, the bear channel top drawn off the Jan 6 high. A break would strengthen the bullish theme. GBPUSD remains below last week's high of 1.4009 on Apr 20. A bearish risk dominates while 1.4009 remains intact. Support to watch is at 1.3824, Apr 22 low. USDJPY is testing and has probed trendline support drawn off the Jan 6 low. A clear break would signal scope for a deeper pullback and open 106.78, 50.0% retracement of the Jan - Mar rally.
  • On the commodity front, Gold maintains a bullish tone. The focus is on $1805.7, Feb 25 high. Brent (M1) remains below last week's high. Key support to watch is $63.42, the 50-day EMA. WTI (M1) found resistance last week at $64.38 on Apr 20. The 50-day EMA at $60.08 is seen as a firm intraday support.
  • In the FI space, Bunds (M1) have defined a short-term resistance at 171.18/2, the 20-day EMA and Apr 22 high. On the downside support is at 170.05, 76.4% of the Feb 25 - Mar 25 rally. Support to watch in Gilts (M1) remains 127.81, Apr 14 low. The key resistance is at 129.27, Mar 2 high and the reversal trigger.
Fixed Income Technical AnalysisForeign 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.