Daily Archives: April 1, 2014
Daily FX Wrap and Strategy
The NZD followed the AUD in an overall drift lower yesterday,with few outright drivers. The NZD/USD is 0.2% lower at0.8646.Certainly there seems to have been no knee-jerk reaction to
EURJPY – tight triangle lacking only a wave-e decline; target is 140.64
The expected rally towards 144 to mark a wave-b high was realized and the choppy turn lower makes the case for a wave-c decline.
AUDUSD – wave-iv pullback targets a retracement zone b/w .9227 to .9145
The triple divergence between price and momentum corroborates our wave count indicating that 5-waves up from .8995 are complete.
Daily FX Update
Markets are adding to risk as Asian and European data suggest that global growth trends are improving, albeit slowly. The USD is mixed; with softness in those currencies who had disappointing domestic events
US Morning Update
Judging by the G10 ranges during the London morning, turnover has probably been quite low ahead of more important data and events as the week moves forward from here.
EUR Mid-day Analysis
The Euro has managed to hold within striking distance of the prior session high despite Euro zonemanufacturing data that was a little soft. In fact, the Euro generally remains in favor as a portion of
CHF Mid-day Analysis
The Swiss sits near an upside breakout point on its charts this morning in a move that suggests anattempt to reverse the down trend that has been in place since the mid March highs.
JPY Mid-day Analysis
The Yen remains vulnerable on its charts and it also remains vulnerable to its economic condition. With thetankan survey coming in weaker than expected,
USD Mid-day Analysis
The Dollar enters the trade this morning sitting significantly below the prior session high and seeminglyvulnerable from a technical perspective.
CAD Mid-day Analysis
Somewhat positive Canadian GDP results for January provided some fundamentalsupport to the Canadian but weakness on the charts suggests that the Canadian is now vulnerable to
GBP Mid-day Analysis
The Pound has generally clawed out positive action on the charts over the last two weeks, but thePound is under initial pressure this morning because of disappointing
Central European Daily
The forint firms after higher-than-expected C/A surplus PMIs fall below forecast but stay above 50 On Monday, a forint rally continued and the currency firmed to its 7-week highs.