EMERGING MARKETS: CEEMEA FX Price Signal Summary - EURHUF Key Support Remains Exposed
- EURHUF remains below 376.97, the Jun 15 high. The trend condition is bearish and recent short-term gains are considered corrective. The next key resistance is at 378.79, the May 19 high. On the downside, key support and the bear trigger is 367.59, the Jun 12 low. A clear break would resume the downtrend and open 366.41, the Mar 30 2022 low and the 360.00 handle further out.
- EURPLN trend conditions remain bearish and the cross traded lower last week. The pair has traded through key short-term support at 4.4307, the Jun 12 low. This confirms once again a resumption of the downtrend, extending the bearish price sequence of lower lows and lower highs. A continuation would open the 4.40 handle next. The 50-day EMA intersects at 4.5174. A break of this average would alter the picture. The 20-day EMA is the first resistance, at 4.4645.
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US: Debt Ceiling Deal Has Been Reached
NY Times reported negotiators reached a deal "in principle to raise the debt limit for two years while cutting and capping some government spending over the same period, a breakthrough after a marathon set of crisis talks that has brought the nation within days of its first default in history, three people familiar with the agreement said."
JGB TECHS: (M3) Corrects Lower
- RES 3: 151.26 - High Mar 3 2022
- RES 2: 149.75/150.81 - High Nov 11 / High Aug 5 2022
- RES 1: 149.53 High Mar 22
- PRICE: 148.53 @ 16:25 BST May 26
- SUP 1: 147.31/27 - 50-day EMA / Low Apr 18
- SUP 2: 145.80/144.73 - Low Mar 13 / Low Feb 13
- SUP 3: 144.15 - Low Jan 13
JGBs slid sharply Thursday, as hawkish Ueda comments prompted a correction. The bounce Friday helped stall any more protracted pullback, although the gap with next resistance at 149.17 remains. The strong recovery from 147.27, the Apr 18 low confirms the corrective nature of the recent pullback, keeping medium-term attention on 149.53, the Mar 22 high and the bull trigger. A break of this level would confirm a resumption of the uptrend. To the downside, the 50-dma provides support at 147.31, just above the Apr 18 low.
MNI: TREASURY GENERAL ACCOUNT $38.8B MAY 25 VS $49.5B PREV DAY
- MNI: TREASURY GENERAL ACCOUNT $38.8B MAY 25 VS $49.5B PREV DAY
