HUF: Sell-Off Reversing But Balance of Risks Appears to Shift Towards Weaker HUF
Oct-16 11:18
EURHUF has extended the pullback from last week's high to around 1%, with the cross currently 0.2% l...
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OUTLOOK: GBPUSD Breaches Resistance
Sep-16 11:10
- In FX, the trend theme in EURUSD remains bullish. Today’s gains have resulted in a climb above 1.1789, the Jul 24 high, exposing 1.1829, the Jul 01 high and bull trigger. Clearance of this hurdle would confirm a resumption of the primary uptrend. Support to watch is the 50-day EMA, at 1.1643. A clear breach of it would signal scope for a deeper retracement. First support lies at 1.1694, the 20-day EMA.
- A bullish theme in GBPUSD remains intact and price is trading higher this week. The pair has traded through resistance at 1.3595, the Aug 14 high and a bull trigger. The break strengthens bullish conditions and opens 1.3681 next, the Jul 4 high. Initial firm support to watch is 1.3480, the 50-day EMA.
- USDJPY continues to trade inside its range. Key short-term support to watch is 146.21, the Aug 14 low and a bear trigger. A break of this level would highlight a stronger bearish threat and highlight a range breakout. This would expose 145.40, 50% of the Apr - Aug upleg. On the upside, clearance of 149.14, the Sep 3 high is required to reinstate a bullish theme.
EURIBOR OPTIONS: Mid Curve spread trades for more
Sep-16 11:09
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OUTLOOK: Price Signal Summary - Gold Bulls Still In Charge
Sep-16 10:58
- On the commodity front, Gold remains in a clear bull cycle and has started the week on a firmer note - yesterday the metal traded to a fresh all-time high, once again. The break higher confirms a resumption of the primary uptrend and an extension of the sequence of higher highs and higher lows. The next objective is the $3700.00 handle and $3705.2, a 1.382 projection of the May 15 - Jun 16 - 30 price swing. Initial firm support lies at $3532.8, the 20-day EMA.
- In the oil space, the trend condition in WTI futures is unchanged - a bear cycle remains intact and short-term gains are considered corrective. The pullback from the Sep 2 high highlights a possible recent reversal and the end of a corrective phase between Aug 13 - Sep 2. Initial resistance to watch is $66.03, the Sep 2 high. Key short-term resistance has been defined at $69.36, the Jul 30 high. A stronger resumption of weakness would open $57.71, the May 30 low.
