EM ASIA CREDIT: TSMC (TAISEM): Guidance for Q1 strong
( Aa3/AA-/NR) "*TSMC SEES 1Q SALES $34.6B TO $35.8B, EST. $33.22B" - BBG "*TSMC SEES 1Q GROSS MARGI...
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GBPUSD TECHS: Bull Cycle Remains Intact
- RES 4: 1.3527 High Oct 1
- RES 3: 1.3471 High Oct 17
- RES 2: 1.3452 61.8% retracement of the Sep 17 - Nov 4 bear leg
- RES 1: 1.3438 High Dec 11
- PRICE: 1.3360 @ 06:06 GMT Dec 16
- SUP 1: 1.3342 Low Dec 12
- SUP 2: 1.3284 50-day EMA
- SUP 3: 1.3180 Low Dec 2
- SUP 4: 1.3125 Low Nov 26
A bullish extension last week in GBPUSD confirmed a resumption of the current uptrend. Scope is seen for a climb towards 1.3452 next, 61.8% of the Sep 17 - Nov 4 bear leg. Clearance of this hurdle would strengthen a bull theme and open 1.3527, the Oct 1 high. Initial firm support is seen at 1.3286, the 20-day EMA. A clear break of this average would highlight a bearish development and signal a possible reversal.
BOBL TECHS: (H6) Trend Needle Points South
- RES 4: 117.140 High Nov 26 and key resistance
- RES 3: 117.070 High Nov 27
- RES 2: 116.960 High Dec 1
- RES 1: 116.320/770 High Dec 8 / 3
- PRICE: 116.060 @ 05:36 GMT Dec 16
- SUP 1: 115.720 Low Dec 10
- SUP 2: 115.660.4.000 proj of the Nov 6 - 14 - 26 price swing
- SUP 3: 115.600 Round number support
- SUP 4: 115.573 4.236 proj of the Nov 6 - 14 - 26 price swing
The trend set-up in Bobl futures remains bearish following a recent impulsive sell-off. Price has breached support at 116.790, the Nov 14 and 20 low. This confirmed a resumption of the downtrend that started mid-October. Sights are on 115.660 next, a Fibonacci projection. Note that the trend is oversold, a stronger recovery would allow this set-up to unwind. First important resistance is at 116.770, the Dec 3 hig
EURUSD TECHS: Uptrend Intact
- RES 4: 1.1848 High Sep 18
- RES 3: 1.1813 76.4% retracement of the Sep 17 - Nov 5 bear leg
- RES 2: 1.1779 High Oct 1
- RES 1: 1.1769 High Dec 15
- PRICE: 1.1752 @ 005:55 GMT Dec 16
- SUP 1: 1.1649 20-day EMA
- SUP 2: 1.1591 Low Dec 2
- SUP 3: 1.1556 Low Nov 26
- SUP 4: 1.1491 Low Nov 21
EURUSD is trading at its cycle highs. Recent gains reinforce a bull theme highlighting potential for an extension higher. The recent breach of key short-term resistance at 1.1656, the Nov 13 high and a bull trigger, highlights a stronger reversal. Sights are on 1.1779 next, the October 1 high. Initial support to watch is 1.1649, the 20-day EMA and a pivot level. A clear breach of the EMA would be bearish and highlight a possible reversal.
