Forex Market
USD/JPY Analysis
USD/JPY opened in Asia at Y76.77 after NY highs of Y76.97 and continued to grind its way higher through exporter supply after an early low of Y76.75, taking out the NY high and some light stops to Y77.10.
EUR/USD Analysis
Opened early Europe at $1.3268, EUR/USD closed in NY at $1.3261, just off recovery highs of $1.32708 seen after the euro made strong gains on reports that a Greek debt deal was nearing conclusion.
GBP/JPY Technical Analysis
(122,60)The GBP/JPY confirmed a strong closing above the resistance of the positive outside day at 121,20 supporting further strength. Possible a direct extension of the move up toward the 200 days line, now found a 124,51.
EUR/CHF Technical Analysis
(1,2110) EUR/CHF confirmed a move above the neck line suggesting a possible extension of the move up towards a possible s/t target at 1,2142!! The indicators of the daily chart are already recovering above the line and also those of the s/t ones are in positive territory supporting higher levels.
GBP/USD Technical Analysis
(1,5920)The CABLE is confirming the expected overshooting of the 1,59 level suggesting a test of the 200 days line at 1,5940 with even a possible direct overshooting that could mean an overshooting toward 1,61.
EUR/GBP Technical Analysis
(0,8340) 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 strong above the top of the previous session suggesting further strength.
FX Market Technical Research
EUR/USD is right at the top of the 1.3280 range, this represents a return to point of break out from the previous uptrend (see weekly chart on the next slide). However the move yesterday looks directional and that the market appears to be breaking higher from a bull flag pattern.
Technical Analysis
It’s a euro relief rally… possibly towards 1.34 in EURUSD and above 102.50 in EURJPY… This move is also felt in EURCHF which is eyeing resistance at 1.2110 – an opener for 1.22 (the yearly high) and in EURAUD where a bullish “Key-day reversal” is in the making…
EUR/JPY Technical Analysis
(102,30) The EUR/JPY confirmed a strong closing last night well above the resistance of the inside day at 100,85 supporting the extension that this morning favoured a test of the 102,45 area.
EUR/USD Technical Analysis
(1,3274) The EUR/USD confirmed a strong closing last night above the resistance of the positive outside day at 1,3230 supporting further strength. Possible an overshooting toward the 1,3450 area!! The indicators of the daily chart are still well positive supporting further strength.
GBP/USD Analysis
Closed in NY at $1.5900, 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.
USD/CHF Technical Analysis
(0,9113) The USD/CHF is confirming further consolidation interior the negative outside day with 0,9265 – 0,9100 still the levels to follow in the coming hours. A daily closing below 0,9100 will support a deeper correction toward 0,9077 our s/t target with even a possible undershooting toward the 200 days line.