Forex Market
JPY Analysis
Opened in early Europe at Y79.97 and Y103.05, Opened in Asia at Y79.94 and headed higher on comments from PM Noda warning that all options were on the table for dealing with the strong yen. Dollar grinded higher through Y80.00 to Y80.12 before sharp sales in the yen crosses pressed to Y80.00 and settle in […]
Daily FX Technical Strategy – USD benefits from global uncertainty
The dollar is on a roll. Broad based signs of USD strength point to further material gains in the coming months. AUD/USD posted the low close that we were hoping to see last Fri implying the uptrend of the previous three years is over.
FX Market Technical Research
EUR/USD The daily RSI is trading at oversold levels not seen since December which leads us to believe that EUR/USD will manage to heave itself back up towards the 61.8% Fibonacci retracement of this year’s advance at 1.2954 in the days ahead.
GBP/USD Analysis
Closed in NY at $1.6072 with early demand, following the weekend cut in China’s RRR by 50bps, taking the rate up to overnight highs of $1.6080 as early market reacted to Aussie’s lead. Rate reversed off highs as it tracked EUR/USD drop below $1.2900 as Greek far Left party Syriza announced it would not be […]
Technical Analysis
ECB € index broke lower, NOK/SEK higher… EUR/USD At support… EUR/JPY Broad important support… EUR/SEK Look for a mid body buy… USD/SEK Resistance capping for now… EUR/NOK Still struggling with the ceiling… NOK/SEK Heading next for 1.1945… EUR/GBP Bullish daily candle added.
AUD/USD Analysis
AUD/USD remains weighed by risk off sentiment Monday, with the pair breaking parity this morning for the first time in five months. Signs of softness in the domestic economy are also weighing on the AUD/USD as the government enforces tight fiscal settings in order to return a budget surplus and as benign inflation clears the […]
Behavioral Finance: Daily Forex Outlook: The euro begins to reflect popular scepticism
EUR USD (1.2920) European Commission’s offer of a conditional delay of Spain’s 2013 deficit target if Madrid accepts new scrutiny about its plan to restructure banks and ensure more say in monitoring regional governments, reflects a compromising stance following the anti-austerity backlash that the eurozone elections produced.
Daily FX Technical Strategy: AUD/USD lift shaft
Up the escalator, down the lift shaft typically describes AUD/USD price action: downtrends tend to be short sharp brutal moves compared to uptrends. We highlight this behaviour because AUD/USD is on the cusp of throwing out several major bearish signals and the close tonight could very likely be a negative catalyst for long-term trend followers. […]
Global Technical Watch – Quick Charts
Among the recent trends across markets, commodities are arguably the most striking, as some base metals such as nickel push to new lows for the year. The decline in WTI crude also has further to run, in our view.
GBP/USD Analysis
Closed in NY at $1.6138 with rate getting an early lift to session highs of $1.6143 as the option barrier at stg0.8000 was targeted and triggered, a US bank and a UK clearer the stand out sellers as rate dipped to stg0.7995.
FX Market Technical Research
EUR/USD continues to trade below the 61.8% retracement of the move seen this year and remains under pressure. Corrective rebounds should remain tepid – daily technical indicators remain negative and our target remains the 1.2624 January low.
EUR/USD Analysis
Closed in NY at $1.2934, with rate pulling back from its recovery highs of $1.29799 having met stiff resistance into $1.2980. Rate got an early lift to session highs of $1.2944 as news of JPMorgan’s loss hit the wires, but rally quickly met strong US name supply which reversed tack.