Forex Market
Technical Analysis
Actually not much to report with most markets remaining sidelined. EURUSD an unexpected bounce but still seen as a corrective one, EURGBP this morning slipping out of the bear flag, USDJPY ending a volitile day in the middle of its range,
FX Market Technical Research
EUR/USD: Golden-Cross About To Be Formed. The pair trades back above the former Jul support line after the pair rebounded from the previous two session’s lows.
GBP/USD Analysis
Closed in NY at $1.6074 after easing back from recovery highs of $1.6086, having corrected off earlier session lows at $1.6021. Rate nudged back up to retest Tuesday’s high, as pre Tokyo market bought yen pairs in anticipation of a risk-on open.
EUR/USD Analysis
Closed in NY at $1.2960 after easing back from recovery highs of $1.2984, having seen lows into Tuesday’s Europe open of $1.2886. Demand for euro-yen into early Asia provided some early lift, allowing rate to edge to session highs of $1.2969 before Tokyo sold back into the speculated risk-on move at their open.
Asian Currencies Technicals
AUD/USD: Struggling Ahead Of Oct 18 High. The AUD/USD has had another bounce towards the Oct 18 highs but has again failed to close above which is needed to retain topside focus.
FX Market Analysis
EUR: Opened early Europe at $1.2886, Euro-dollar closed NY at $1.2903 after rate had eased off a recovery high of$1.2924 to $1.2885 before settling into tight range around $1.2900 into close.
Technical Analysis
EURUSD slowly but steadily eroding support and we still watch the 1.2883/93 support with great interest. USDJPY another QE and this time halflife….
European FX Daily
– BoJ expanded asset purchases by JPY11trn – RBI kept repo rate unchanged, cut cash reserve ratio by 25bps – South Korea’s current-account surplus widened to $6.07bn – US markets remain closed – Italy to sell 5yr and 10yr bonds today
FX Market Technical Research
EUR/USD: Trades Under Former July Support Line. The pair slips below the July support line to hover around the $1.2900 level, while daily tech studies continue to point lower.
GBP/USD Analysis
Closed in NY $1.6034 after recovering off $1.6007 low to $1.6039. Rate initially eased to $1.6022 in early Asian trade before settling between $1.6025/40 for most of otherwise quiet session, markets wait developments on US weather.
EUR/USD Analysis
Closed NY at $1.2903 after rate had eased off a recovery high of $1.2924 to $1.2885 before settling into tight range around $1.2900 into close. US weather conditions made for expected subdued trade which carried over to early Asia.
Asian Currencies Technicals
AUD/USD: Layers of Support Noted. The AUD/USD continues to look heavy following the recent failures to test the Oct 18 highs but with the 21-DMA ($1.0286), rising daily channel base and the pivotal $1.0290 level supporting, we will continue to look for a close below to return focus to retests of the Oct monthly lows.