Daily Archives: September 12, 2011
MS FX Flows Chart Pack – September 12, 2011
Week of: Sept 3 – 9, 2011 USD Buying Demand: Our clients were net buyers of USD on the week, though net flow was not especially large. In all, conviction on USD has been weak, as our clients have flipped from net buyers to net sellers and vice versa for the past six weeks in […]
EUR Cracks
EURUSD surrenders key 1.3722/1.3655 support with risk to the 2011 low, 1.2859. Strategy: Try a short at 1.3825 for 1.3050; exit 1.4155. EURGBP surrender of 200-day MA and .8654/11 support cluster signals bigger top for .8460/55 next and risk to .8245 in September. EURJPY plunge through key basing support and the 105.43 secular low targets […]
Behavioral Finance: Daily Forex Outlook: Market has no ear for positive eurozone news
EUR/USD (1.3520) The resignation of Juergen Stark from the ECB has gobbled up column inches in the weekend press, but it would be wrong to blame the news for the euro’s decline. By the time the news agencies ran the story, the euro had already registered two-thirds of he day’s losses.
FX DAILY STRATEGIST: Europe – 12 September 2011
EUR continues to slide – volatility risks slipping over into real economy: Concerns over progress on the Greek bailout and the sudden resignation of Juergen Stark from the ECB Governing Board has seen risk pummelled. The DJIA fell more than 300 points and the flight into safe haven assets kept USD and USTs well bid. […]
European FX Daily – EUR sell off continues
– AUD and KRW lead sell-off vs USD, Asian equities down 1.2%-3.3%. – US data this week likely point to slow growth but no support yet for QE3 – Italian and Spanish bond auction in focus – Credit Suisse conference call today: The Future of the Euro
Technical Analysis – FX Daily Majors
Today’s highlights: EUR/USD: Plunge through critical 1.3772/1.3665 support area from the 2010-11 up trend aims at 1.3428 today with September risk growing for 1.2859 GBP/USD: Attempted basing in the 1.5912/05 area dismissed with spotlight today on key retrace/price support, 1.5785/81
Global Macro Strategy – Trade Ideas – Sell EUR/GBP
In an ad hoc comment sent to clients on 18 August, we said that we would look to sell EUR/GBP should support at 0.8645 be penetrated. This support has now gone intra-day, and we think the time is ripe for further GBP gains versus EUR. To repeat our thoughts: The chart below (Figure 1) looks […]