Forex Market
EUR/GBP Technical Analysis
(0,8397) EUR/GBP is confirming further consolidation interior the inside day with 0,8400 – 0,8270 still the levels to follow in the coming hours. The closing last night was again strong above the top of the previous session suggesting further strength.
EUR/JPY Technical Analysis
(102,70) The EUR/JPY confirmed another strong closing last night well above the top of the previous session supporting a test of the 100 days line at 102,90. The indicators of the daily chart are still well positive but already showing potential negative reversals and on top of that approaching the overbought area.
USD/JPY Technical Analysis
(77,18) The USD/YEN is still well bid supporting higher levels and this should favour an extension of the move up toward the 77,50 level. The indicators of the daily chart are still well positive supporting further strength.
EUR/USD Technical Analysis
(1,3300) The EUR/USD is confirming further strength already overshooting the 1,33 level on the way toward our target at 1,3351 if not even 1,3380!! The indicators of the daily chart are still well positive supporting further strength.
USD/CHF Technical Analysis
(0,9095) The USD/CHF confirmed in the last hours further consolidation interior the negative outside day with 0,9265 – 0,9100 still the levels to follow. It just broke below 0,9100 suggesting a test of our s/t target at 0,9077 with even a possible undershooting toward 0,9050.
EUR/CHF Technical Analysis
(1,2105) EUR/CHF is still well bid above 1,21 but it still failed to confirm the s/t target of the S_H_S formation at 1,2142!! The indicators of the daily chart are still in positive territory while those of the s/t ones are mixed suggesting some more consolidation in the s/t charts.
AUD/USD Analysis
Opened at $1.0805 and struggled from the off as early EUR/AUD buying continued from the NY session pushed the AUD/USD lower. The pair fell to $1.0760 and then through stops at $1.0750 to lows of $1.0746 on an incorrect Chinese CPI release.
USD/JPY Analysis
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 through Y77.20.
Asian Summary
EUR opened at $1.3260 in Asia after a day of headline watching as the Greek debt deal saga lingers on. Latest reports show that the Greek political parties still disagree on an aspect of the Troika’s pension reform which is required to sanction the 2nd bailout package.
FX Daily Strategist: US
Greece newsflow positive despite delays; ECB to determine EURs next move EURUSD has so far failed to make further substantial gains after breaking above technical resistance at 1.3244. While yesterday’s rally in EUR was fuelled by headlines that the Greek government was drafting an agreement on the bailout deal for political leaders to approve on […]
Behavioral Finance: Daily Forex Outlook: The euro breaks to the upside, finally
EUR USD (1.3245) The euro delivered an impressive performance yesterday. It broke out of the range set over the last two weeks and reached the highest level this year. Given that on Monday traders attempted to push the euro out from the congestion towards the downside, one must therefore interpret a tone of a short […]
GBP/USD Analysis
Opened early Europe at $1.5906 stg0.8341 just off its recovery highs of $1.5906 seen as rate was pulled higher by EUR/USD stronger rally as market reacted to reports that a Greek debt deal was close to conclusion.