Forex Market
Technical Analysis
Big intra range swings….EURUSD bearish key day reversal Tuesday followed by a long lower spike yesterday questioning the reversal candle,
USD/JPY Analysis
The reversal to risk on in NY Wednesday, as market saw comments from US Pres. Obama and House Speaker Boehner as positive for an eventual Fiscal Cliff Compromise, along with an upbeat Beige Book,
GBP/USD Analysis
Closed in NY at $1.6016 after recovering in tandem with euro-dollar from lows of $1.5962. Risk gained a late boost in NY from perceived positive signals concerning a compromise on the US Fiscal Cliff, as well as an upbeat Beige Book.
EUR/USD Analysis
Closed in NY at $1.2955 after rate had recovered off session lows at $1.2880 as risk gained a boost on the back of comments from US Pres. Obama and House Speaker Boehner which were seen showing a compromise was possible concerning the looming Fiscal Cliff,
AUD/USD Analysis
The Australian dollar was slightly higher Thursday after trading in a narrow range throughout the session, even as local data showed capital expenditure in the third quarter was stronger than expected.
Asian Currencies Technicals
AUD/USD: Bounces From Ahead Of Initial Support. The pair bounced from ahead of the $1.0420 level that previously capped with focus remaining topside on retests of the Sept monthly highs.
Mid-Day FX Market Analysis
EUR: Opened early Europe at $1.2924, Euro-dollar closed in NY at $1.2944 after recovering off a stop driven low of $1.2915 as trade through Thursday eased away from the initial react highs of $1.3010 following Monday’s Eurogroup Greece debt action.
Technical Analysis
EUR/SEK traded distinctively higher yesterday and should test should test 8.6850 in the process. 8.63 should be supportive now…
Daily Market Technicals
EUR/USD: Bearish Key-Day Reversal – Risks Skewed Lower. Bearish key-day reversal pattern seen yesterday and inability to break above daily Bollinger band top (despite minor break above long-term resistance line from May 2011) – leaves risks skewed lower.
USD/JPY Analysis
Leverage selling of dollar-yen into early Asia applied pressure on this pair, as well as euro-yen, with the move lower dictating play through the Asian session.
GBP/USD Analysis
Closed in NY at $1.6024 after recovering off a late dip low of $1.6010. Cable had been pressed lower in NY on the back of euro-dollar slippage, though reports of Dutch PB sales of euro-sterling (this rate pressing down to stg0.8060) had provided some buoyancy in the move lower.
EUR/USD Analysis
Closed in NY at $1.2944 after recovering off a stop driven low of $1.2915 as trade through Thursday eased away from the initial react highs of $1.3010 following Monday’s Eurogroup Greece debt action.