Forex Market
GBP/USD Analysis
Closed in NY at $1.5979 after rate had recovered off intraday lows of $1.5957, seen after the pound came under pressure following release of softer than forecast services PMI data.
EUR/USD Analysis
Closed in NY at $1.2796 after recovering from an intraday low of $1.2767, but below its 200-dma at $1.2830 (today coming in at $1.2828 and offering key resistance).
Asian Currencies Technicals
AUD/USD: Lower Levels Remain Favoured. The pair recovered a little lost ground yesterday but currently remains capped at the $1.0370 level and needs to close above Friday’s highs to return focus to retests of Sept monthly highs.
FX Market Analysis
EUR: Opened early Europe at $1.2830, Euro-dollar closed in NY Friday at $1.2835, just off session lows of $1.2822 seen following the release of stronger than forecast US employment data.
Technical Analysis
Last week we saw the greenback ending on the strong side and equities, eur, jpy and commodities on the weak side. We are mainly looking for more of the same given that EURUSD has violated 1.2825 = sub 1.2804 (possible 1.2770 enough for the day), USDJPY stronger resistance 80.68/85,
FX Market Technical Research
EUR/USD: Breaks And Closes Below Jul Trendline. Large dark candle on Friday reaffirms the bearish trend, despite the golden-cross posted on Thursday.
GBP/USD Analysis
Closed in NY at $1.6021, just off session lows of $1.6008 after the dollar made decent gains following the release of better than forecast US employment data.
EUR/USD Analysis
Closed in NY at $1.2835, just off session lows of $1.2822 seen following the release of stronger than forecast US employment data.
FX Market Analysis
EUR: Opened early Europe at $1.2902, Euro-dollar opened flat in Asia around $1.2937 and after some early demand interest lifted to $1.2951. The pair met resistance and ground lower as interbank traders positioned shorts ahead of stops beneath $1.2925.
Technical Analysis
The dollar holds the upper hand despite improved stock market sentiment… EURUSD is still thought to test the mid/low-1.28s, while USDJPY is expected to take out the recent 80.38 high, for extension towards 80.56\63…
FX Market Technical Research
EUR/USD: Studies Firming, Continue To Note Golden-Cross. We continue to note the golden-cross of the 55-DMA and 200-DMA, now initial support alongside the lower Bollinger band and Oct 11 low around $1.2826 to $1.2850.
USD/JPY Analysis
Leveraged demand lifted dollar-yen to Y80.18 on release of encouraging labour data, the rate stalled and eased back on cross supply. Late trade saw dollar-yen nudge higher again to Y80.20 and settle in a tight range.