Forex Market
JPY Analysis
Opened in early Europe at Y79.53 and Y100.40, opened in Asia at Y79.85 and ground lower in thin trade. The pair bounced on a solid Tankan survey but was unable to hold gains and extended losses to Y79.50 in late dealings.
EUR Analysis
Opened early Europe at $1.2625, closed in NY Friday at $1.2670 and consolidated post EU summit gains. The EUR opened in Asia at $1.2665 and briefly touched a high of $1.2680 on markets continued reaction to recent headlines.
FX G10 and EM Morning Trader Views
G10 EUR – So after Friday afternoons squeeze as people took further shorts off the table into the w/e, the break has allowed people to digest the news further and we have moved back into the range as people view the summit news as positive however realise there is still a long way to go […]
Daily FX Technical Strategy: Downbeat mood fails to lift
Heavy volumes in FX markets on Friday combined with wide trading ranges in many USD markets point to squaring out of long positions.
FX Trends daily (FOCUS: GBP/NZD)
GBP/NZD On the last trading sessions, the GBP/NZD has extended its downtrend and has broken below a support at 1.9558 (61.8% retracement of February to May 2012 upward wave and short-term support trend line).
Technical Analysis
After the big moves, the impulsive relief moves post the EU summit, we probably will see the market digest the moves over the coming days. In general we should be looking for mid body tests (of Friday’s benchmark candles).
FX Market Technical Research
EUR/USD: Bulls Focus on Mid-June High. The EUR makes a sharp recovery over the 5 & 21-DMAs, which turn initial support at $1.2535/58 to reach a $1.2693 high.
CFTC: Dollar long extended ahead of Fridays violent price action
The latest data from the CFTC covering the week ending June 26 showed that speculative traders in IMM currency futures increased their aggregate long dollar position by 20 percent to USD 27 billion.
GBP/USD Analysis
The rate closed in NY Friday at $1.5710 having consolidated modest gains seen throughout Europe. GBP headed higher on the Asian open to $1.5692, before slipping in tandem with EUR/USD on profit take sales. Rate extended losses through the Tokyo fix to lows of $1.5650 where the rate met strong demand and recoverd to $1.5665.
EUR/USD Analysis
Closed in NY Friday at $1.2670 and consolidated post EU summit gains. The Euro opened in Asia at $1.2665 and briefly touched a high of $1.2680 on markets continued reaction to recent headlines.
AUD/USD Analysis
The AUD/USD was lower in Asian trade Monday, weighed in part by the continued weakness in China’s official manufacturing PMI data.
USD/JPY Analysis
USD/JPY was little changed in Asian trade, sitting around Y79.79, having been unable to hold the early gains that took the pair to just below Y79.98. The pair bounced on a solid Tankan survey.