Latest Forex Research
GBP/USD hourly– Only a decisive break above 1.7050 would eliminate the setback risk
• The market is still struggling with key-pivotal resistance 1.7044/49 (2009 high/2005 low) which needs to
EUR/USD hourly – A break above 1.3676 is needed to open additional upside
• The market has finally 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.
EUR/GBP weekly– Make or break at 0.7961!
• Having already exceeded the internal 76.4 % retreatment at 0.8005 quite a bit, chances of running into
USD/TRY daily – Breaks above 2.1635/2.1717 are needed to indicate a bottom in place
• The idea that the decline from the 2.3893 top is nothing else but an internal 4th wave setback remains fully
Weekly Report
SNB’s loose policy requires stricter regulatory measures The Swiss National Bank kept its 3-month libor target unchanged at 0.00-0.25% and pledged to
FX Daily Majors
Today’s highlights: GBPUSD above multi-year range resistance at 1.7044/49 should see strength extend to our target of 1.7330.
Daily FX Update
Markets are quiet; with equities relatively flat, the U.S. 10‐year yield in a tight range, the USD retraces some of its losses and volatility still falling. There is no U.S. data today or Fed speakers.
EUR Mid-day Analysis
The Euro has mostly favored negative territory this morning as the currency probably became short termoverbought into the highs yesterday.
CHF Mid-day Analysis
While the move in the Swiss wasn’t definitive overnight, the bias in the Swiss is pointing downward.
JPY Mid-day Analysis
The Yen remains off balance after it was unable to extend the quasi up-side breakout on its chartsyesterday.
USD Mid-day Analysis
The Dollar has generally managed to respect its 50 and 100 day moving averages on this week’s sharpwashout and that provides the Greenback with some support.
CAD Mid-day Analysis
The Canadian Dollar remains just below new high for the move ground this morning andthere doesn’t seem to be a definitive change in the overall fundamental setup.