Latest Forex Research
AUDUSD – rounded top and o/n break suggest test of .9205 lows
Aussie has continued to drift lower since completing a 5-wave rally and a bearish geometric pattern at .9505.
EURUSD – satisfies 5-wave decline; correcting to 1.3425/45
Yesterday we highlighted the bullish RSI divergence and 5-wave decline from 1.37; together this evidence points to a short-term low at 1.3333.
USDJPY – 61.8% Fib at ~101.80, wave-(2), is key to bullish bias
The bigger than expected correction found support at the 61.8% retracement; the 2 correction legs also sport a 1.618 relationship.
AUD/JPY and NOK/SEK in focus
EURUSD: Yesterday’s attempt to kick off an upside correction stalledalready just below the first resistance, 1.3399.
EUR/USD Analysis
Weak euro area economic data this week have fuelled the concerns about other potential volatility-inducing events in August putting more pressure on the EUR,
Gold Technical Analysis
Gains continued for Gold Thursday following the recent flirtations with the 200-DMA.
FI Eye-Opener: Japanese yield levels calling
Core bonds continued to rally on both sides of the Atlantic, and the curve bull-flattened further, as geopolitical tensions and risk aversion continued.
FX Daily
The German trade balance for June is expected to show an increase in exportsand imports after both figures declined in May.
AUD/USD Analysis
After last night’s dead cat bounce to $0.9283 during the US hours, the pair ran into fresh pressure during Friday’s Asia-Pacific session.
RBA reassesses growth: trims forecasts
Growth outlook trimmed. RBA still expects “a bit below trend” growth for 2014/15; now at 2½%,
Daily Market Technicals
Pressure remains on the fresh 2014 low at $1.3333 set on Wednesday with bulls now needing a close above $1.3407 to
EUR/USD Analysis
The pair started this morning at $1.3364 after gains last night stalled at $1.3394, just shy of rumored heavy selling at heavy offers at $1.3400 (options expiry).