EUR/GBP Turning Softer, But Overall Markets Tread Water
Action Insight Mid-Day Report 3-21-22

EUR/GBP Turning Softer, But Overall Markets Tread Water

The forex markets are mixed in rather quiet trading today. Swiss Franc apparently stronger but there isn't much follow through buying yet. Euro could be turning weaker again but it has to dip more to confirm downside momentum. Other major pairs and crosses are still stuck inside Friday's range. Global benchmark treasury yields are on the rise again but there is much movement in Yen.

Technically, attentions stays in some Euro crosses including 0.8358 minor support in EUR/GBP. Break there will suggest completion of rebound from 0.8201, and bring deeper fall back to retest this low. The question is, if that happens, whether EUR/USD would be dragged through 1.0899 minor support, or, GBP/USD would be pushed through 1.3210 minor resistance. Let's see.

In Europe, at the time of writing, FTSE is up 0.44%. DAX is down -0.01%. CAC is down -0.14%. Germany 10-year yield is up 0.0718 at 0.443. Earlier in Asia, Hong Kong HSI dropped -0.89%. China Shanghai SSE rose 0.08%. Singapore Strait Times rose 0.75%. Japan was on holiday.

Full Report Here

Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.3127; (P) 1.3162; (R1) 1.3213; More...

Intraday bias in GBP/USD remains neutral at this point. Some more consolidation could be seen. On the downside, break of 1.2999 will resume larger down trend from 1.4248. However, firm break of 1.3210 should confirm short term bottoming. Stronger rise should be seen back to 55 day EMA (now at 1.3361).

Full Report Here

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

Recommended Readings

Canadian Dollar Posts Best Week of 2022

Oil and Gold Paths Diverged

EUR/USD Elliott Wave Analysis: More Weakness Ahead

Fed Raising Rates But Stocks Rallying… What is Going On?

EURUSD Faces Fading Bearish Bias, But Confirmation Required

Bitcoin: Local Positive, But Potentially Sideways for the Year

Market Will be Flooded With Comments from Fed and ECB Policy Makers

Gold Struggles to Extend Declines after Hitting a Floor at 1,920

Global Inflation Watch – Inflation Keeps Pushing Higher

Fundamental Analysis | Technical Analysis
In-depth Reports
Fed Still Behind the Curve Despite Signalling Six Further Rate Hikes
Bitcoin Pinned Around $39,000 as Ukraine War Proves a Blessing and a Curse
Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
21:45 NZD Trade Balance (NZD) Feb -385M -808M -1082M -1126M
14:01 GBP Rightmove House Price Index M/M Mar 1.70% 2.30%
02:00 EUR Germany PPI M/M Feb 1.40% 1.70% 2.20%
07:00 EUR Germany PPI Y/Y Feb 25.90% 26.10% 25.00%