Forex Market
EUR/USD Technical Analysis
(1,3175) The EUR/USD confirmed a test of the 1,3025 level before propelling again higher forming a positive outside reversal. We have now 1,3230 – 1,3015 the levels to follow in the coming hours.
GBP/USD Analysis
Cable closed in NY at $1.5837, having seen extended recovery highs in this session of $1.5884 after the eventual break above $1.5800. Rate initially marked session lows at $1.5835 into Asian dealing before edging higher, the move up tracking the risk on moves in AUD and EUR/USD, with rate touching a high of $1.5857.
EUR/USD Analysis
Euro-dollar closed in NY at $1.3160, having seen recovery highs in this session of $1.32187, from earlier European lows of $1.3026, as risk was given a boost by release of generally firmer PMI data. Rate edged higher into early Asia, taking its lead from AUD as it rallied through barriers at $1.0750 on strong trade […]
JPY Analysis
Opened in Asia at Y76.20 after hitting a 2012 low of Y76.03 in midday European trading yesterday. Comments from Fin Min Azumi and an uptick in US treasury yields prevented further losses. Stops are seen aligned for a break of Y76.00 ahead of some Y75.80 bids and a Y75.50 barrier.
Behavioral Finance: Daily Forex Outlook: Job data is no reason for Fed to get less dovish
EUR USD (1.3070) Firm manufacturing data from across the globe boosted demand for equities and the euro rebound yesterday. With the Portuguese bond yields falling after a good auction and the Greek deal seemingly looking closer to resolution, the markets are now likely to focus on Fed. In his testimony before the Senate, Ben Bernanke […]
FX Daily Strategist: Europe
Nothing standing in the way of the risk rally? Global PMIs have added support to the overall risk environment, hinting that a more significant global downturn has been averted. PMIs from China, UK, Norway, Sweden and the Eurozone confirmed that growth remains steady.
Technical Analysis – FX Daily Majors
Today’s highlights: · DXY: Bearish “outside” pattern back from topping resistance at 79.50/70 leaves risk now to our correction target at 78.30/77.90 · EURUSD: Topping questioned, but whilst below 1.3235/44 prior support violations leave risk lower to 1.3026 (recent low/13-day EMA) and on to 1.2931 next
FX Market Technical Research
EUR/USD while we remain biased towards failure at 1.3245/50, the 38.2% retracement of the move down from November, chart action at this juncture is not at all clear. The erosion of the near term uptrend has provoked NO follow through and we could even argue that there is a potential ‘bull flag’ developing.
GBP/USD Analysis
Closed in NY at $1.5837, having seen extended recovery highs of $1.5884 after the eventual break above $1.5800. Rate initially marked session lows at $1.5835 into Asian dealing before edging higher, the move up tracking the risk on moves in Aussie and EUR/USD, with rate touching a high of $1.5857.
EUR/USD Analysis
Closed in NY at $1.3160, having seen recovery highs in this session of $1.32187, from earlier European lows of $1.3026 as risk was given a boost by release of firmer PMI data. Rate edged higher into early Asia, taking its lead from the AUD rallied through barriers at $1.0750 on the back of stronger than […]
AUD/USD Analysis
Opened in Asia at $1.0705 after a strong rally yesterday from lows in $1.0570 in early europe yesterday. A strong EUR rally on expectations of a quick result to the Greek debt swap with private creditors led a sharp rally in EUR/USD.
USD/JPY Analysis
Opened in Asia at Y76.20 after hitting a 2012 low of Y76.03 in midday European trading yesterday. Comments from Fin Min Azumi and an uptick in US treasury yields prevented further losses. Further words overnight but no intervention has left the dollar still vulnerable to further downside forays.