EMERGING MARKETS: CEEMEA FX Price Signal Summary - Fresh Trend Low In EURPLN
Feb-27 12:08
- A bear cycle in EURHUF remains intact and the contract has traded to a fresh cycle low, this week. The move down maintains the bearish price sequence of lower lows and lower highs and signals scope for a move towards 398.31, the Oct 9 ‘24 low. Clearance of this level would open the 395.00 handle. Note too that moving average studies are in a bear-mode position, highlighting a dominant downtrend. Initial key resistance is at 406.39, the 50-day EMA. The 20-day EMA is at 403.61.
- A downtrend in EURPLN remains intact and the cross has traded to another fresh cycle low, today. The move down confirms a resumption of the bear trend. Sights are on 4.1153, the 3.764 projection of the Nov 6 - 7 - 12 ‘24 price swing. A break of it would open 4.0995, the 4.00 projection. On the upside, resistance to watch is 4.2125, the 50-day EMA. A clear break of this average would highlight a possible reversal and expose 4.2838, the Jan 9 high. The 20-day EMA, an initial resistance, is at 4.1742.
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OUTLOOK: Price Signal Summary - Corrective Cycle In WTI Remains In Play
Jan-28 12:05
- On the commodity front, despite yesterday’s pullback in Gold, the yellow metal is trading closer to its recent highs. A bull cycle is in play and the breach of resistance at 2726.2, the Dec 12 high, reinforces current conditions. Sights are on $2790.1, the Oct 31 all-time high. A break of this hurdle would confirm a resumption of the primary uptrend. The first key support to watch is $2671.6, the 50-day EMA. A reversal lower and a breach of this average would reinstate a bearish threat. The 20-day EMA is at $2702.2.
- In the oil space, Monday’s move lower in WTI futures marks an extension of the current corrective cycle. The 20-day EMA has been breached and attention turns to support around the 50-day EMA, at $72.16. A clear break of the 50-day average would suggest scope for a deeper retracement. On the upside, a reversal higher would focus attention on $79.48, the Apr 12 ‘24 high and a key resistance.
EQUITIES: Estoxx outright call buyer
Jan-28 11:59
SX5E (21st mar) 5500c, bought for 16.4 in 4k.
ECB: MNI ECB Preview, Jan'25: An 'Easy' Step Nearer Neutral
Jan-28 11:57
- We have published and e-mailed to subscribers the MNI ECB Preview, including MNI analysis plus analyst views on what to expect at this month's meeting.
- Please find the full report here: https://media.marketnews.com/ECB_Preview_Jan2025_fa0c9e0123.pdf
