Forex Market
Technical Analysis
Risk on mode remains in place. Again basically slow moves however with the greenback gaining some since yesterday whereas the euro and especially the yen having weakend somewhat. Chinese equities having a good day (so far) challenging the Sept/Oct peaks.
FX Market Technical Research
EUR/USD: Capped By May 1 Resistance Line. The pair moved up to the May 1 resistance line, but consolidated below as daily tech studies pointed the way higher.
GBP/USD Analysis
Closed in NY Wednesday at $1.6148, off earlier highs of $1.6179. Broad dollar demand was seen across the board in early Asia and cable like euro-dollar had a slow grind lower throughout the session.
EUR/USD Analysis
Closed in NY Wednesday at $1.3125 off earlier highs of $1.3139. Tight range trade continued with talk of Asian sovereign and real-money sales capping on the topside.
USD/JPY Analysis
Dollar-yen made a clean break of Y79.00 and extended to NY highs of Y79.05 on reports that the BOJ and government may each provide further stimulus, the rate later eased to close at Y78.95.
Asian Currencies Technicals
AUD/USD: Closes Above 200-DMA. With a close above the 200-DMA needed to shift focus higher the pair now turns its immediate attention to the falling 21 day upper Bollinger band coming in around $1.0510 today.
FX Market Analysis
EUR: Opened early Europe at $1.3090, Euro-dollar spiked higher after the New York close, boosted by news that ratings agency Moody’s was maintaining Spanish rating, although assigning a negative outlook.
Technical Analysis
The euro looks a little stronger now and defensive currencies like USD & JPY have to dodge. EURUSD could set a fresh >1.3173 high – at least barring a <1.2825 counterbreak… Below 78.60 would hurt the dollar against it’s index…
European FX Daily
– Asian shares and currencies gain – Spain retains investment grade credit rating from Moody’s – Singapore exports surprised weak – Focus on BoE minutes to assess further QE risk
FX Market Technical Research
EUR/USD: Focus Turns Higher Towards May Resistance Line. The pair spikes higher, straight through the Sept 17 resistance line to challenge the upper Bollinger band.
GBP/USD Analysis
Closed in NY Tuesday at $1.6115, the rate recovered from a pullback low of $1.6092 after earlier posting highs of $1.6132. Cable spiked after the New York close to $1.6135 on news that Moody’s was maintaining the Spanish rating, although assigning a negative outlook.
EUR/USD Analysis
Closed in NY Tuesday at $1.3050, off earlier highs of $1.3061 and as the risk rally continued. Euro-dollar spiked higher after the New York close, boosted by news that ratings agency Moody’s was maintaining Spanish rating, although assigning a negative outlook.