Latest Forex Research
EUR/JPY – The market remains at risk of selling off to 135.55 and 134.36
The failure to clear key-pivotal resistance at 140.08 (internal wave 1 low) left the market in a highly vulnerable stage and kept the broader down-rotation intact.
EUR/GBP – A range breakout between 0.7959 & 0.8084 is needed for directions
Having already exceeded the internal 76.4 % retreatment at 0.8005 quite a bit, chances of running into
GBP/USD – Another failure to break higher?
The market is making another attempt to break decisively above key-pivotal resistance 1.7044/49 (2009 high/2005 low) as minor Fib.-resistance at 1.7037 (minor 76.4 %) has already been penetrated.
EUR/USD – Unchanged! Below 1.3672/76, the market remains vulnerable
The market has managed to trade away from key-support at 1.3477 (2014 low) which supports our view that a stronger bounce (wave 2 or wave B) could be looming.
Weekly Report
GBP has valid reasons to strengthen The UK’s semi-annual Financial Stability Report highlighted the risks behind UK’s high level of
USDJPY – wave-c of E is targeting 101; look for 101.32 break near-term
The triangle we were tracking from 6/12 broke in a bearish fashion and has continued the downtrend that began with the 102.80 top.
Daily FX Update
Markets are favouring risk aversion, but most activity has been relatively muted. Equities are soft, the U.S. 10year yield is at 2.51% and the USD is mixed;
EUR Mid-day Analysis
While the Euro appears to be undermined by a surprise slide in Euro zone consumer confidence for themonth of June,
CHF Mid-day Analysis
While the Swiss isn’t showing as definitively positive action on the charts as the Euro, it does appear as ifthe Swiss has an up-trend channel in
JPY Mid-day Analysis
After a month long sideways consolidation, the Yen has climbed out of the formation to the upside.
USD Mid-day Analysis
The Dollar initially forged a fresh downside breakout overnight but it was able to recover back abovethis week’s lows.