Forex Market
FX Market Analysis
EUR: Opened early Europe at $1.2927, Euro-dollar closed in NY Friday at $1.2945 after recovering off a session low of $1.2890, the rate bouncing to $1.2956 before easing to $1.2923 ahead of the close.
European FX Daily
– Asian stock markets fell, currencies resilient – Moody’s upgraded Philippines to Ba1, in line with S&P and Fitch – US stock markets to close as Hurricane Sandy approaches – Italy to sell six-month bills today
Technical Analysis
Some interesting action taking place on Friday with especially a bearish key day reversal in USDJPY and a bearish key week reversal in EURGBP noted. OIL also looks like its ready taking a dive.
FX Market Technical Research
EUR/USD: Bears Eye July Support Line. The pair was turned away from the 21-DMA and also found support from the Jul support line, initial resistance and support, respectively, at $1.2972 and $1.2908.
GBP/USD Analysis
Closed in NY Friday at $1.6115 after recovering from a pullback low of $1.6081 to a late recovery high of $1.6124. Rate retested that recovery high into early Asian dealing before rate turned lower, settling between $1.6070/85 through the main part of the overnight session, trading around $1.6085 into early Europe.
EUR/USD Analysis
Closed in NY Friday at $1.2945 after recovering off a session low of $1.2890, the rate bouncing to $1.2956 before easing to $1.2923 ahead of the close.
Asian Currencies Technicals
AUD/USD: $1.0290 Remains Pivotal. The AUD/USD confirmed the significance of the $1.0290 support level to end last week with the pair bouncing back towards the Oct 18 highs.
FX Market Analysis
EUR: Opened early Europe at $1.2930, risk appetite increased in early Asian trade, the rate headed higher and extended recovery attempts to $1.2956.
Technical Analysis
$/scandies on the verge of breaking higher… EUR/USD Double top gaining cred.. USD/JPY Longs – beware!… USD/NOK A very bullish setup… EUR/SEK Meandering higher… USD/SEK At the neckline… GBP/SEK Broke up from the range… EUR/NOK Pause? – then 7.4995
FX Market Technical Research
EUR/USD: Bears Focus On July Support Line. The pair approaches the Jul support line, now initial support at $1.2895, alongside the 23.6% Fibonacci at $1.2906.
GBP/USD Analysis
Cable consolidated post UK GDP gains to close in NY around $1.6120, the rate recovered from a pullback low of $1.6111 after slipping on denied talk of a US downgrade.
EUR/USD Analysis
Euro-dollar headed lower throughout the US afternoon, the rate printed $1.2970 on release of early data that came in-line with expectations.