Forex Market
FX Market Technical Research
EUR/USD has sold off towards the 55 day ma at 1.3067, which together with the 38.2% retracement of the last leg up at 1.3056 appears to be holding the initial test. Rebounds from here should remain tepid – the market has recently severed its short term uptrend, this in conjunction with the divergence of the […]
Technical Analysis
The yen is the current underdog and could (if you give it a little time) lift to and above a pronounced 79.55 peak… Scandie FXers still perform (despite low volatility in EURSEK and a short-term stretch in EURNOK). Refs to keep in mind at the yearly EURSEK low of 8.7430 and last year’s low in […]
USD/JPY Analysis
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.
AUD/USD Analysis
Opened in Asia at $1.0689, picking up strongly from lows in NY of $1.0629 as risk appetite returned late in the session on reports that Greece’s Samaras would after all sign the austerity agreement.
GBP/USD Analysis
Opened in Asia at $1.5693 after lows in NY of $1.5645, tracking the euro weakness and also coming under some pressure from macro sellers from around midday as well as some model buying in EUR/GBP.
FX Ringside
This latest edition of FX Ringside has been updated and improved, and is presented in a new, more effective format. We have expanded the Week Ahead page to include most G10 currencies together with their Eastern European counterparts.
JPY Analysis
Opened at Y77.57 after recovering from lows of Y77.40 in NY and came under pressure as EUR/JPY sales emerged on the back of downgrades from Moody’s over 9 European sovereigns.
GBP/USD Analysis
Opened in early Europe at $1.5706 and stg0.8370. Opened at $1.5768 in Asia after being under pressure in NY on fading risk appetite. The Asia session opened to further rating news (after S&P and Fitch both announced downgrades to Spanish banks yesterday afternoon) with Moody’s downgrading ratings of 6 European sovereigns.
EUR/USD Analysis
Opened at $1.3185 after being ground down in NY on downgrade announcements from Fitch and S&P. Asia opened to further rating news from Moody’s that 9 european sovereigns would be adjusted. Euro triggered stops through $1.3180 and $1.3150 on sales from Russian and momentum names despite demand from an Asian sovereign.
Behavioral Finance: Daily Forex Outlook: Inflation is no bar for new QE
EUR USD (1.3165) With the BoJ yesterday setting an inflation target (one percent) even lower than the one set by Fed, it seems the markets are being primed for another round of coordinated easing globally. After all inflation levels in eurozone, the US and Japan are contained, so that they will unlikely pose a hurdle […]
Technical Analysis – FX Daily Majors
Today’s highlights: · USDJPY: An “outside” pattern already today (bullish?) aiming for key 200-day MA at 78.05 and then range resistance at 78.31. Above secures firmer Q1 base · EURUSD: Hinting at a small top, but still needs a close below 13-day EMA, 1.3125, to aim for 1.3026 next. Through here confirms
Technical Analysis
It looks like EURUSD is flipping back into bearish so keep an eye on action after the opening hour today if there is more selling going through we think AUDUSD & GBPUSD will lead by example (1.0640 & 1.0615 and 1.2626 are key refs in those)…