EURJPY TECHS: Northbound
Jul-25 14:06
- RES 4: 175.43 High Jul 11 ‘24 and a key medium-term resistance
- RES 3: 174.86 1.764 proj of the Feb 28 - Mar 18 - Apr 7 price swing
- RES 2: 174.00 Round number resistance
- RES 1: 173.61 High Jul 24
- PRICE: 173.12 @ 15:06 BST Jul 25
- SUP 1: 171.27 20-day EMA
- SUP 2: 169.77 Low Jul 3
- SUP 3: 168.57 50-day EMA
- SUP 4: 167.46 Low Jun 23
EURJPY is trading at its recent highs and a bullish trend condition remains intact. A fresh cycle high today, maintains the bullish price sequence of higher highs and higher lows. Note too that moving average studies are in a bull-mode position. Sights are on the 174.00 handle next. Support to watch lies at 171.27, the 20-day EMA. A clear breach of this average would signal scope for a corrective pullback.
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EQUITY TECHS: E-MINI S&P: (U5) Bull Cycle Remains In Play
Jun-25 14:03
- The trend condition in S&P E-Minis remains bullish.
- This week’s fresh cycle high confirms a resumption of the uptrend that started Apr 7.
- Sights are on 6200.00 and 6281.12, the 1.50 and 1.618 projections of the Apr 7 - 10 - 21 price swing.
- Key support remains at the 50-day EMA.
- A clear break of it would signal a reversal.
BUNDS: OI Points To Net Short Setting Across Curve After DFA Funding Plan
Jun-25 14:03
OI data points to net short setting across the German futures curve on Tuesday, as market participants reacted to the DFA’s Q3 funding plan and accompanying commentary.
- Tuesday’s OI % increases for the major German FI futures contracts are outlined below, with Bund OI rising by a net ~45K lots:
- Schatz OI: +0.2%
- Bobl OI: +0.9%
- Bund OI: +3.8%
- Buxl OI: +3.2%
- A reminder that our most recent Europe Positioning Indicator (Pi), released Monday, noted that positioning in German contracts was leaning "long" in April but there's been a decisive shift toward "short" in the time since. Most notably in Schatz, positioning has gone from "very long" in late May to one of two shorts in Europe Pi. The other short is in Bunds, which was "flat" previously.
- Tuesday OI data points to an extension of that trend.
- Bobl and Buxl positioning remained flat in our Pi update.
MNI: US MAY NEW HOME SALES -13.7% TO 0.623M SAAR
Jun-25 14:00
- MNI: US MAY NEW HOME SALES -13.7% TO 0.623M SAAR
- US APR NEW HOME SALES REVISED TO 0.722M SAAR
