POLAND: President Nawrocki Hosts Meeting With Parliamentary Groups

• RES 4: 186.41 2.618 proj of the Jul 31 - Sep 29 - Oct 2 price swing
• RES 3: 185.77 2.5000 proj of the Jul 31 - Sep 29 - Oct 2 price swing
• RES 2: 185.68 Bull channel top drawn from the Feb 28 low
• RES 1: 184.92 High Dec 22
• PRICE: 183.62 @ 07:54 GMT Dec 30
• SUP 1: 182.28/181.57 20-day EMA / Low Dec 17 
• SUP 2: 180.59 50-day EMA 
• SUP 3: 179.77 Low Nov 21
• SUP 4: 177.55 Bull channel support drawn from the Feb 28 low

The trend structure in EURJPY remains bullish and a recent fresh cycle high reinforces current conditions. The move higher confirms a resumption of the primary uptrend. Sights are on 185.68, the top of a bull channel drawn from the Feb 28 low. This level also represents a key resistance point. On the downside, support to watch lies at 182.80, the 20-day EMA. A breach of it would signal the start of a corrective cycle.

Desks calling for a fairly flat start in gilt futures, currently look for an open around 91.20-25, with core global FI markets back from yesterday's highs.

• RES 4: 92.31 High Nov 12
• RES 3: 92.00 Round number resistance         
• RES 2: 91.78/93 High Dec 17 / High Nov 27
• RES 1: 91.18 High Dec 23      
• PRICE: 91.28 @ Close Dec 29
• SUP 1: 90.50 Low Dec 16       
• SUP 2: 90.28 Low Nov 21  
• SUP 3: 90.00 Round number support    
• SUP 4: 89.86 Low Nov 19 and the bear trigger     

Recent price action in Gilt futures highlights 90.50, the Dec 16 low, and 91.93, the Nov 27 high, as two important short-term directional triggers. A clear breach of support at 90.50 would signal scope for a deeper retracement towards 89.86, the Nov 19 low and a bear trigger. For bulls, a stronger resumption of gains and a breach of 91.93, would instead signal scope for a climb towards resistance at 92.55, the Nov 11 high.