"*THAMES WATER REQUESTS REFERRAL OF FINAL DETERMINATION TO CMA" - BBG...
Find more articles and bullets on these widgets:
The trend condition in USDJPY is unchanged, it remains bullish and the pair is holding on to the bulk of its recent gains. Last week’s fresh cycle high, reinforces a bull theme. The recent breach of 156.75, the Nov 15 high, confirmed a resumption of the uptrend and opens 159.45, the Jul 12 ‘24 high. Moving average studies are in a bull-mode position highlighting a dominant uptrend. Initial firm support is 156.90, the 20-day EMA.
The current bear cycle in BTP futures remains in play and the contract is trading closer to its recent lows. Price has breached support at 117.40, the Nov 7 low and a key level, strengthening the current bearish condition. This opens 116.59, a Fibonacci retracement. Initial firm resistance is seen at 119.49, the 20-day EMA. A recovery would be considered corrective and this would allow an oversold condition to unwind.
The trend condition in Gilt futures is unchanged, the direction remains down and last week’s fresh cycle lows reinforce current conditions. Recent weakness also highlights an acceleration of the trend. Sights are on 88.87 next, a Fibonacci projection. Initial resistance is at 90.31, the Jan 9 high. Resistance at the 20-day EMA, is at 91.61. The EMA is seen as an important hurdle for bulls.