EURGBP TECHS: Approaching Key Resistance
Mar-12 19:00
- RES 4: 0.8530 76.4% retracement of the Aug 8 - Dec 19 ‘24 bear leg
- RES 3: 0.8494 High Aug 26 ‘24
- RES 2: 0.8474 High Jan 20 and a key resistance
- RES 1: 0.8462 High Jan 24
- PRICE: 0.8430 @ 14:55 GMT Mar 12
- SUP 1: 0.8378/8335 Low Mar 10 / 50-day EMA
- SUP 2: 0.8299/41 Low Mar 5 / 3 and a near-term bear trigger
- SUP 3: 0.8223 Low Dec 19 and a key support
- SUP 4: 0.8203 Low Mar 7 ‘22 and a lowest point of a multi-year range
A bull cycle in EURGBP remains in play and this week’s extension reinforces the current bullish theme. The cross has breached 0.8419, 76.4% of the Jan 20 - Mar 3 bear leg. This paves the way for a climb towards 0.8474, the Jan 20 high and the next key resistance. On the downside, initial firm support is seen at 0.8335, the 50-day EMA. The short-term trend is in overbought territory. A pullback would allow this set-up to unwind.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
PIPELINE: Corporate Bond Update: $6.5B Eli Lilly 6Pt Launched
Feb-10 18:42
- Date $MM Issuer (Priced *, Launch #)
- 02/10 $6.5B #Eli Lilly $1B 3Y +27, $1.25B 5Y +42, $1B 7Y +50, $1.25B 10Y +60, $1.25B 30Y +80, $750M 40Y +90
- 02/10 $2B #Union Pacific $1B 10Y +65, $1B 30Y +88
- 02/10 $500M #Textron 10Y +102
- Expected to launch Tuesday:
- 02/11 $700M Snap Inc 8NC3 7%a
PIPELINE: Corporate Bond Update: $2B Union Pacific Launched, Eli Lilly Guidance
Feb-10 18:38
- Date $MM Issuer (Priced *, Launch #)
- 02/10 $Benchmark Eli Lilly 3Y +27, 5Y +42, 7Y +50, 10Y +60, 30Y +80, 40Y +90
- 02/10 $2B #Union Pacific $1B 10Y +65, $1B 30Y +88
- 02/10 $500M #Textron 10Y +102
- Expected to launch Tuesday:
- 02/11 $700M Snap Inc 8NC3 7%a
US: Voters Says Trump Is Doing What He Promised On Campaign Trail
Feb-10 18:37
A new survey from CBS has found that most Americans describe Trump as "tough," "energetic," "focused" and "effective" — and believe he is “doing what he'd promised during his campaign…”
- CBS notes: “Many say he's doing more than they expected — and of those who say this, most like what they see. Very few think he's doing less."
- CBS adds: “His partisans and his voters, in particular, say he's got the right amount of focus on matters like ending diversity, equity and inclusion programs and deporting those who are in the country illegally. His deportation policy finds majority approval overall — just as most voters said they wanted during the campaign — and that extends to sending troops to the border, too."
- The report warns: “But one key issue looms: Most Americans say the administration isn't focused enough on lowering prices. Inflation was a key reason Mr. Trump won the election.”
Figure 1: “Describe Donald Trump as…?”
Source: CBS
