Forex Market
USD/JPY Analysis
Euro-yen came under sell pressure from Japanese accounts into early Tokyo trade, with traders linking the move to a weak Nikkei opening which was seen as risk negative.
Daily Market Technicals
EUR/USD: Studies Stretched/Neutral As Boll Bands Widen. The pair broke above the daily Bollinger band top, yesterday, but now trades back within. Daily tech studies suggest the pair is overbought,
GBP/USD Analysis
Closed in NY at $1.6095, just off NY traded highs at $1.6116 and after recovering off a shallow pullback low of $1.6086.
EUR/USD Analysis
Closed in NY at $1.3054 after rate had pulled back from a late session high at $1.3076. Rate nudged higher in early Asian dealing, pushing up to challenge reported offers placed at $1.3065.
AUD/USD Analysis
The Australian dollar flip-flopped through the Asian morning Tuesday, reacting to Australian economic data initially and then to the Reserve Bank of Australia’s decision to cut its benchmark interest rate.
Asian Currencies Technicals
AUD/USD: Potential For $1.0290-1.0310 In The Short Term. Fresh two week lows for the AUD/USD again overnight combined with the failure at the Nov 30 highs and correcting overbought slow stochastics increase the risk of a move lower that initially sees the $1.0290-10 region retested.
Mid-Day FX Market Analysis
EUR – Opened early Europe at $1.3032, Euro-dollar closed in NY Friday at $1.2986 having pivoted $1.3000 through the day within a range of $1.3029-1.2968, with month end dollar demand providing a counter against further upside gains.
Technical Analysis
The common ccy, equities, commodities and bonds all ended last week on a positive footing so we’re entering the current one with risk appetite on.
Daily Market Technicals
EUR/USD: Approaching Fibonacci Resistance At $1.3052. Break above $1.3027 Fibonacci level, 76.4% of $1.3140-$1.2662 now favours move to $1.3052, which is the 76.4% of $1.3172-$1.2662move and $1.3058, as current level of Bollinger band top.
USD/JPY Analysis
Euro-yen was a key mover through the Asian session with rate pushing up from an early posted low at Y106.77. Triggered stops through Y107.30 provided the added momentum to take it up to session highs of Y107.53 before rally strength faded.
GBP/USD Analysis
Rate closed in NY Friday at $1.6013, able to finish the week back above $1.6000 after a brief dip to $1.5988, with early trade into Asia Monday seeing rate ease off to $1.6005 as it tracked euro-dollar moves.
EUR/USD Analysis
Closed in NY Friday at $1.2986 having pivoted $1.3000 through the day, within a range of $1.3029-1.2968, with month end dollar demand providing a counter against further upside gains.