EM CEEMEA CREDIT: CCOLAT: Q125 earnings headlines

• RES 4: $77.75 - High Jan 20  
• RES 3: $76.26 - High Feb 20
• RES 2: $72.31/75.47 - 50-day EMA / High Apr 2 and a bull trigger
• RES 1: $67.95 - Low Mar 5 and a recent breakout level            
• PRICE: $63.80 @ 07:02 BST Apr 7  
• SUP 1: $63.01 - Intraday low   
• SUP 2: $61.97 - 2.236 proj of the Jan 15 - Feb 4 - 20 price swing
• SUP 3: $60.00 - Psychological round number 
• SUP 4: $58.26 - 3.000 proj of the Jan 15 - Feb 4 - 20 price swing

Brent futures traded in a volatile manner last week and also traded sharply lower. The move down cancels a recent bullish theme. Price has traded cleared both the 20- and 50-day EMAs. Furthermore, the contract has breached $67.87, the Oct 10 ‘24 low. This signals scope for a continuation towards $91.97, a Fibonacci projection. On the upside, initial firm resistance is seen at $67.95, the Mar 5 low.

• MNI: GERMANY FEB TRADE BALANCE E17.7BLN; JAN E16.2BLN
• GERMANY FEB EXPORTS 1.8% M/M; JAN 0.0%
• GERMANY FEB IMPORTS 0.7% M/M; JAN 5.0%

• RES 4: 151.30 High Mar 3   
• RES 3: 150.43/151.21 50-day EMA / High Mar 28 and reversal trigger 
• RES 2: 149.12 20-day EMA
• RES 1: 148.18 Low Mar 20 
• PRICE: 145.92 @ 07:07 BST Apr 7
• SUP 1: 144.56 Low Apr 4  
• SUP 2: 144.13 76.4% retracement of the Sep 16 ‘24 - Jan 10 bull leg
• SUP 3: 143.43 Low Oct 2 ‘24
• SUP 4: 142.95 1.00 proj of the Feb 12 - Mar 11 - 28 price swing

USDJPY maintains a softer tone following last week’s sharp sell-off and is trading just ahead of its recent lows. A resumption of the downtrend and a break of Friday’s 144.56 low would signal scope for an extension towards 144.13, a Fibonacci retracement point. Initial firm resistance to watch is 149.12, the 20-day EMA. Short-term gains would - for now - be considered corrective.