Forex Market
USD/JPY Analysis
Opened in Asia at Y77.66 after highs in NY of Y77.73 and headed higher on some early importer demand to Y77.75 before exporters pushed the pair back to Y77.51. The pair has since settled around Y77.60/65.
Technical Analysis: Aussie uptrend weakening
The first signs of a crack in the AUD-USD uptrend are coming through. Five waves down on the hourly chart warn of further losses to come. Gold also has a bearish wave structure and USD-TRY is poised for an upward reversal. Open interest in S&P 500 futures is falling despite the rally, warning that a […]
FX Daily Strategist: Europe
Big day for the Euro – Eurogroup meeting and ECB to dominate The pace of the Greek saga is finally heating up as deadlines and schedules compress. Greek political leaders met late into the night saying there was no option but to come to agreement ahead of FinMin Venizelos’ early morning departure to attend an […]
Behavioral Finance: Daily Forex Outlook: Markets await last-minute Greek deal
EUR USD (1.3275) There is yet another Greek moment building up today. Given that the chairman of the Eurogroup Juncker has called a meeting on Greece and the IMF is included, the market is again anticipating some sort of endgame to be played out – after all, reports emanating from Greece suggest that only €300 […]
GBP/USD Analysis
Opened early Europe at $1.5828 stg0.8388, having recovered off a pullback low of $1.5797, seen as EUR/GBP extended its recovery to a high of stg0.8388. Rate was shoved down to extended lows of $1.5794 in early Asian trade,
JPY Analysis
Opened in early Europe at Y77.20 and Y102.67 Opened in Asia at Y77.04 after recovering from lows of Y76.71 in London yesterday on some heavy exporter selling. The USD held firm in Asia this morning after early falls were contained at Y76.99 and built higher with EUR/JPY to Y77.23 tripping some light stops en route […]
FX Market Technical Research
EUR/USD remains at the top of the 1.3280 range, leaving the dilemma over direction STILL unresolved. This move can be perceived as either a return to point of break out from the previous uptrend (see weekly chart on the next slide) or a break higher from a bull flag pattern.
GBP/USD Analysis
Closed in NY at $1.5820, having recovered off a pullback low of $1.5797, seen as EUR/GBP extended its recovery to a high of stg0.8388. Rate was shoved down to extended lows of $1.5794 in early Asian trade, as rate tracked EUR/USD negative reaction to the headline reports that Greek political leaders had failed to reach […]
Technical Analysis
Still an euro friendly environment with EURUSD remaining on a northern track, aiming ideally at the 1.34-area, EURJPY making a second attempt higher, holding potential for a 104.37 move, EURGBP forming a possible pressure cooker upside formation,
GBP/JPY Technical Analysis
(122,25)The GBP/JPY formed a negative day reversal but only a daily closing below 121,40 will confirm a s/t top. A move above 122,90 will instead support a direct extension of the move up toward the 200 days line at 124,46.
GBP/USD Technical Analysis
(1,5840)The CABLE confirmed our s/t target before plunging again lower while waiting for the MPC. The drop favoured a test of the 200 hours line at 1,5800 where it is finding decent support for now. The tone is still positive and this drop is corrective!
EUR/USD Analysis
Closed in NY at $1.3260 with rate coming under pressure early into the Asian session as wires ran headlines that Greek political leaders had failed to reach a final agreement on the new bailout deal (pension cuts a stumbling point in the required austerity measures).