Forex Market
Behavioral Finance: Daily Forex Outlook: The endless tug of war on Greece
EUR USD (1.3010) Although it has been announced that the next Eurogroup meeting on Greece, scheduled for Monday, is likely to deliver a deal on the second bailout package, the markets are reluctant to believe that the crisis is heading for closure.
FX Daily Strategist: Europe
Greece/Eurogroup uncertainty now reigns Risk is back under pressure. The positive start to the year in global equities and in the likes of AUD, NZD and SEK in FX markets suggested a level of complacency about the Greek crisis: the sense has been that markets have assumed that through all the bluster and posturing, when […]
Technical Analysis – FX Daily Majors
Today’s highlights: · EURUSD: Break below 1.3026 chart support and the 38.2% retracement of 1.3054 keeps the focus skewed lower to the 1.2889/54 chart/61.8% retracement support zone · AUDUSD: Topping structure in place with threat lower to the trend line from late 2011, now 1.0629/45. Through confirms a more notable reversal for 1.0527
FX Market Technical Research
EUR/USD remains under pressure and we look for 1.3000 to be eroded soon. This will leave the market directly offered and on course for 1.2891/54 (61.8% retracement of recent leg higher) then the 1.2624 January low.
Technical Analysis
A lot of events since yesterday morning. Risk appetite on the defensive with VIX rising (up from a higher low) and EZ worries back on the frontpage. The common currency is again under increasing pressure and EURUSD is checking key support levels,
AUD/USD Analysis
Opened at $1.0696 in Asia having fallen back yesterday from highs of $1.0776 following comments from PBOC’s Zhou. Doubts over the Greek debt deal and dovish FOMC comments sent the AUD/USD lower throughout the rest of the day to $1.0681 lows in NY, and the pair continued to slip in early Asian trade to lows […]
EUR/USD Analysis
Opened at $1.3065 this morning in Asia after falling from $1.3191 to $1.3043 in NY last night, as risk aversion returned following talk of further delays in the Greek debt outcome and growing pessimism that it will be unable to fulfill its austerity obligations.
GBP/USD Analysis
Opened in Asia at $1.5697, but had largely held up well following a sharp reversal in risk yesterday as the Greek tragedy rolls on and indecision and delays pounded the EUR/USD in NY to lows around $1.3043.
JPY Analysis
Opened in early Europe at Y78.48 and Y103.35. Opened in Asia at Y78.43 having finally broken higher in yesterday’s session through the 200 day MA at Y78.04. The USD topped out at Y78.54 in NY and saw steady buying throughout Tuesday from macro funds.
EUR/USD Analysis
Opened in early Europe at $1.3170. Recovered from lows of $1.3080 in NY after EU’s Juncker cancellation of today’s scheduled EU meeting, in favor of a conference call. Comments from German Fin Min Schaueble also failed to inspire confidence when he said that Europe was better prepared for a Greek default.
GBP/USD Analysis
Opened in early Europe at $1.5722 and stg0.8377. Opened in Asia at $1.5693 after lows in NY of $1.5645, GBP tracked the EUR weakness and also came under some pressure from macro sellers and model buying in EUR/GBP.
Behavioral Finance: Daily Forex Outlook: The euro looks beyond Eurogroup meeting
EUR USD (1.3170) The multiple negotiations taking place around Greece seem to each be in a state of limbo. The Eurogroup chief, Juncker, has postponed the emergency finance ministers’ meeting to approve the €130 billion aid package and apparently a teleconference will be convened.