Forex Market
Mid-Day FX Market Analysis
EUR: Opened early Europe at $1.2765, demand in the crosses predominately from euro-yen lifted the rate to $1.2760 in early Asia, flushing light stops on the move.
Technical Analysis
USD/JPY set back risk, €/£ bear flag, NOK/SEK lower… EUR/USD Seeking a sell ahead of 1.28… USD/JPY Bearish divergence… EUR/GBP Next attempt lower underway…
Daily Market Technicals
EUR/USD: Outlook Remains Bearish Whilst Below 200-DMA. The pair suffered a minor break below $1.2695 intra-day Fibonacci level — 76.4% of $1.2662 to $1.2802 and decisive break is seen extending downside to the 21-week moving average at $1.2658 and $1.2633/48, where latter is the 100-day moving average.
USD/JPY Analysis
Closed in NY Friday at Y81.30, the rate recovered of US afternoon pullback lows of Y81.15 after earlier printing highs of Y81.44 where once again strong resistance was met ahead of the Y81.50 barrier.
GBP/USD Analysis
Cable recovered off lows of $1.5836 after the London fixing on Friday and extended gains to $1.5901 in the US afternoon. The rate later pared light gains and closed around $1.5880.
EUR/USD Analysis
Closed in NY Friday at $1.2740, the rate recovered off pullback lows of $1.2690 following calming fiscal cliff comments, after earlier posting a high of $1.2753.
USD/JPY Analysis
The pair is likely to trade in a tight range today in Asia, before the Bank of Japan launches a two-day policy board meeting on Monday amid growing political pressure.
Asian Currencies Technicals
AUD/USD: Spikes Below Lower Bollinger Expected. Friday’s move lower pulled up just short of the 21 day lower Bollinger band before recovering a little lost ground into the close.
Mid-Day FX Market Analysis
EUR: Opened early Europe at $1.2755, Euro-dollar had a lacklustre Asian session with trade confined to a tight $1.2755-85 range. Cross sales predominately in euro-yen eased to $1.2770 after the Tokyo fix, the rate extended losses to $1.2755.
Daily Market Technicals
EUR/USD: Outlook Remains Bearish Whilst Below 200-DMA. Outlook remains bearish whilst below the 200-day moving average, which is today valued at $1.2810.
Technical Analysis
EURUSD was allowed to sneak a bit higher, but is for now stuck at resistance around 1.28, but over it would also allow for 1.2840 – 1.2773\95 before down…
USD/JPY Analysis
Continued its uptrend and lifted to fresh seven month highs of Y81.46, before meeting strong offers ahead of the Y81.50 barrier. Dollar turned defensive on weak data and stocks and retreated to Y81.05, the rate later bounced to close in NY at Y81.15.