OUTLOOK: Price Signal Summary - EURUSD Remains Above The 50-Day EMA
May-15 10:11
- In FX, EURUSD is trading above Monday's low. Recent weakness appears corrective and key trend signals continue to highlight an uptrend. Note that a key support at the 50-day EMA, at 1.1090, remains intact. A clean break of this average would undermine the uptrend. A key resistance to watch is 1.1381, the May 2 - 6 high. Clearance of this level would signal the end of the correction.
- Recent weakness in GBPUSD appears corrective. Tuesday’s gains highlight a possible reversal pattern - a bullish engulfing candle. If correct, the pattern signals the end of the corrective cycle. Key support to watch is 1.3102, the 50-day EMA. A continuation higher would refocus attention on the key resistance and a bull trigger, at 1.3444, the Apr 28 / 29 high.
- USDJPY remains below Monday’s high. The latest pullback underpins the view that gains since Apr 22 appear corrective. A stronger reversal lower would refocus attention on 142.36, the May 6 low. First support to watch is 145.10, the 20-day EMA. On the upside, key short-term resistance has been defined at 148.65, the May 12 high.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
OUTLOOK: Price Signal Summary - Corrective Cycle In S&P E-Minis Still In Play
Apr-15 10:11
- In the equity space, a short-term reversal in S&P E-Minis last week highlights the start of a corrective cycle. The trend condition has been oversold following recent weakness and the move higher is allowing this set-up to unwind. Initial resistance to watch is 5524.91, the 20-day EMA. Resistance at the 50-day EMA is at 5737.71. On the downside, key support and the bear trigger has been defined at 4832.00, the Apr 7 low. Initial support to watch is 5098.16, the 61.8% retracement of the Apr 7 - 10 bounce.
- EUROSTOXX 50 futures continue to trade above their recent lows. The latest bounce highlights the start of a corrective cycle and if this is correct, marks an unwinding of the recent oversold trend condition. Resistance levels to watch are 5008.57, the 20-day EMA, and 5141.17, the 50-day EMA. Key support and the bear trigger has been defined at 4444.00, the Apr 7 low. A break of this level would confirm a resumption of the downtrend. Initial support is seen at 4664.00, the Apr 10 low.
FINLAND AUCTION RESULTS: RFGB Results
Apr-15 10:09
Source: BBG
| 0.125% Sep-31 RFGB | 2.95% Apr-55 RFGB | |
| ISIN | FI4000507231 | FI4000566294 |
| Amount | E680mln | E820mln |
| Previous | E80mln | E200mln |
| Avg yield | 2.60% | 3.47% |
| Previous | 2.60% | 2.87% |
| Bid-to-cover | 1.57x | 1.17x |
| Previous | 2.44x | 1.55x |
| Avg Price | 85.55 | 90.40 |
| Pre-auction mid | 85.419 | 90.213 |
| Prev avg price | 82.80 | 101.60 |
| Prev mid-price | 82.827 | 101.486 |
| Previous date | 07-Dec-23 | 28-Nov-24 |
SOFR: SOFR FIX - 15/04/25
Apr-15 10:02
SOFR FIX - Source BBG/CME
- 1M 4.32813 0.0072
- 3M 4.27979 0.01925
- 6M 4.14224 0.02896
- 12M 3.90182 0.01303
