Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/GBP capped below 5-DMA, good to go short on rallies

  • EUR/GBP is extending declines from major trendline resistance at 0.8780.
     
  • The pair is trading slightly higher on the day after upbeat German PPI data.
     
  • Upside, however, finds stiff resistance at 5-DMA by 0.8702, further upside only on break above.
     
  • Technicals are slightly bearish, Stochs have rolled over from overbought zone and MACD is on verge of a bearish crossover.
     
  • Confirmation with bearish MACD crossover and RSI fall below 50 levels will see further drag.
     
  • Cloud top at 0.8615 is immediate support. Violation there could see test of 100-DMA at 0.8579.
     
  • Focus on UK producer price and consumer inflation data due Tuesday for further impetus in the pair.

Support levels - 0.8614 (20-DMA and cloud top), 0.86, 0.8579 (100-DMA)

Resistance levels - 0.8702 (5-DMA), 0.8770 (trendline), 0.8787 (Mar 13 high)

TIME  TREND INDEX  OB/OS INDEX  
  
1H          Bullish               Neutral       
4H          Neutral               Neutral       
1D          Neutral               Neutral        
1W         Bullish                Neutral      

Recommendation: Good to go short on rallies around 0.8690, SL: 0.8740, TP: 0.8615/ 0.86/ 0.8580

FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at -14.8883(Neutral), while Hourly GBP Spot Index was at -23.1018 (Neutral) at 1230 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

December 10 23:50 UTC Released

JPBusiness Survey Index*

Actual

9.7 %

Forecast

Previous

9.4 %

December 9 01:30 UTC Released

CNPPI YY*

Actual

5.8 %

Forecast

5.9 %

Previous

6.9 %

December 11 07:00 UTC 168168m

TRCurrent Account Balance*

Actual

Forecast

Previous

-4.527 Bln USD

December 11 09:00 UTC 288288m

ITRetail Sales SA MM

Actual

Forecast

Previous

0.9 %

December 11 09:00 UTC 288288m

ITRetail Sales NSA YY

Actual

Forecast

Previous

3.4 %

December 11 11:30 UTC 438438m

TREndYear CPI Fcst/Cb Svy*

Actual

Forecast

Previous

10.68 %

December 11 15:00 UTC 648648m

USEmployment Trends*

Actual

Forecast

Previous

135.6 tln

December 11 15:00 UTC 648648m

USJOLTS Job Openings*

Actual

Forecast

Previous

6.093 Mln

December 11 21:00 UTC 10081008m

KRExport Price Growth YY*

Actual

Forecast

Previous

8 %

December 11 21:00 UTC 10081008m

KRImport Price Growth YY*

Actual

Forecast

Previous

6.8 %

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.