Forex Market
FX Market Technical Research
EUR/USD: Support at 5 & 21-DMAs. The EUR sees mixed daily studies with the stochastic recovering in neutral territory but 10-day momentum fading at the zero line.
GBP/USD Analysis
Closed in NY $1.5685, off European recovery highs of $1.5708. Rate recovered in early Asia, the rate posting highs at $1.5690 before turning lower and tracking EUR/USD slippage to $1.5667.
EUR/USD Analysis
Closed in NY at $1.2605 and marked session highs at $1.26083 before easing below $1.2600 on light trade, with traders noting that main weight came from Tokyo sales of EUR/JPY suggested in turn to be linked to bund redemptions of around E27bln.
Asia today: AUD higher again after stronger retail sales data
AUD pushed higher across the board again Wednesday after retail sales and purchasing manager data came in firm, though the Aussie wasn’t aggressively higher given bank bill yields only rose 2 BP.
Asia FX Rundown
News and markets It’s Independence Day in the US and the markets are quiet. We’re a bit thin on news as well. The main talk has been of the banks: Bob Diamond faces a grilling by the Treasury select committee today and everyone wants to know if (or how badly) he’s going to swipe at […]
Asian Currencies Technicals
AUD/USD: Closes above key moving averages. The pair has closed above both 100 and 200 day moving averages with focus firmly on the April monthly highs.
Euro Ahead of ECB Rate Meeting
The Euro strengthened modestly against the dollar and the yen Tuesday, lifted by better-than-expected U.S. economic data in light trading ahead of the U.S. Independence Day holiday.
Another day of waiting for trend confirmation
Another day of indecision today as the market nervously mulls the upcoming ECB meeting and whether the reacting to the latest news is an exercise in futility.
Behavioral Finance: Daily Forex Outlook: ISM alone may not persuade Fed to ease
EUR USD (1.2605) Yesterday saw Finland and the Netherlands voicing reluctance to idea of allowing the ESM to buy the debt of peripheral states in the secondary market.
Daily FX Technical Strategy: SEK on the launchpad
In the run up to the Independence Day holiday in the US, FX trading is likely to become increasingly choppy and listless. One bright spot though could be the Swedish Krona, which is on the cusp of delivering a series of major bullish signals.
FX Trends daily (FOCUS: EUR/JPY)
Next week, the EUR/JPY cleared a resistance at 101 (upper bound of a short-term bearish channel). This signals an extension of the uptrend and the test of a barrier at 101.65 (June 2012 peak).
Technical Analysis
Mid body reactions, EUR/SEK 8.6990 a must watch… EUR/USD Mid body test… USD/JPY Still struggling with the line… EUR/SEK On the verge of breaking… USD/SEK Waiting for signs of buying… EUR/NOK Very strong rejection… NOK/SEK Last line of defense.