FOREX: FX OPTION EXPIRY
Of note: EURUSD 10.33bn between 1.0350/1.0500. EURUSD 2.3bn at 1.0400/1.0405 (fri). USDJPY 1.15bn...
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SONIA: Call Condor
SFIH5 95.45/95.50/95.60/95.65c condor, bought for 1.75 in 1k.
MNI EXCLUSIVE: Interview with BoF Senior Economist
Bank of France senior economist Klodiana Istrefi discusses expressions of uncertainty and interest rates. On MNI Policy MainWire now, for more details please contact sales@marketnews.com
SILVER TECHS: Bearish Cycle Remains Intact
- RES 4: $34.903 - High Oct 23 and the bull trigger
- RES 3: $33.125 - High Nov 1
- RES 2: $32.338 - High Dec 12 and a key resistance
- RES 1: $30.676 - 50-day EMA
- PRICE: $28.945 @ 07:58 GMT Dec 31
- SUP 1: $28.748 - Low Dec 19
- SUP 2: $28.446 - 76.4% retracement of the Aug 8 - Oct 23 bull cycle
- SUP 3: $27.686 - Low Sep 6
- SUP 4: $26.451 - Low Aug 8
A bear cycle in Silver that started Oct 23 remains in play. The metal has recently breached support at $29.642, the Nov 28 low. The break lower opens $28.446, a Fibonacci retracement. Note that moving average studies are in a bear-mode position highlighting a dominant downtrend. Key resistance has been defined at $32.338, the Dec 12 high. A break of this level would signal a reversal.
