Forex Market
Asian Currencies Technicals
AUD/USD: Correcting Oversold Daily Tech Studies. The AUD/USD managed to take out the previous double daily top at $1.0274 before failing at the Ichimoku cloud base ($1.0293).
FX Market Analysis
EUR: Opened early Europe at $1.2864, Euro-dollar closed in NY at $1.2865, the corrective pullback from session highs of $1.2913 given added weight by the late downgrade of Spain by S&P which saw it trade to $1.2862.
Technical Analysis
EURUSD slowing its decline approaching the important 1.2803 key support, EURJPY same thing homing in on the 99.64 support (setup is however clearly bearish), CABLE forming a small bear triangle so soon to break lower,
FX Market Technical Research
EUR/USD: Pullback Through 21-Day Moving Average. The pair fails ahead of the one-year trendline, now at $1.3089, falling back through the 5 & 21-DMAs, which turn initial resistance at $1.2930/58 with support now at the 200-DMA of $1.2823.
GBP/USD Analysis
Closed in NY at $1.6000, the rate pulled back from session highs at $1.6035 as it tracked euro-dollar slippage, with move provided with some buoyancy as euro-sterling eased off recovery highs at stg0.8061 to stg0.8039.
EUR/USD Analysis
Closed in NY at $1.2865, the corrective pullback from session highs of $1.2913 given added weight by the late downgrade of Spain by S&P which saw it trade to a low of $1.2862.
Asian Currencies Technicals
AUD/USD: Bounce Fails Ahead Of Initial Resistance. The bounce from the Oct 8 lows remained capped by the 100-DMA overnight ($1.0259), coming in just ahead of the double daily top at $1.0274.
FX Market Analysis
EUR: Opened early Europe at $1.2860, Euro-dollar closed in NY at $1.2879 after rate extended its corrective pullback (off Friday’s post NFP highs of $1.3072) through the NY session to a low of $1.2859.
European FX Daily
– Chinese equities up even as most other markets fall – Korean employment up, unemployment unchanged at 3.1% – Weak Swedish industrial production a risk to SEK – We expect Brazil to keep policy rates unchanged
Technical Analysis
The euro got it on the chin (again) yesterday and finds itself in a group of underdogs, or perhaps as the leader of the pack… EURUSD is seemingly set to take out the monthly low of 1.2804 now…
FX Market Technical Research
EUR/USD: Pullback Through 21-Day Moving Average. The pair fails ahead of the one-year trendline, now at $1.3093, falling back through the 5 & 21-DMAs, which turn initial resistance at $1.2953/58 with support now at the 200-DMA of $1.2823.
GBP/USD Analysis
Closed in NY at $1.6000 after rate had trailed euro-dollar’s deeper decline to $1.5975 (61.8% $1.5826-1.6217), the move lower provided some buoyancy by euro-sterling extending its corrective pullback away from stg0.80995 to stg0.8042, closing below a key tech level at stg0.8058.