Forex Market
Asian Currencies Technicals
AUD/USD: Dips Below 200-DMA. The AUD/USD managed a brief dip below the 200-DMA but we continue to look for a close below to ensure the current focus remains on retests of the Sept 5 lows.
FX Market Analysis
EUR: Opened early Europe at $1.2937, Euro-dollar closed in NY at $1.2905 after rate had pulled back from session highs at $1.2971 to $1.2897 as it tracked the negative reversal on Wall St, as well as reaction to anti-austerity protests in Spain.
FX Daily Strategist: Europe
– Risk-off tone likely to linger ahead of Spain event risks on Thursday and Friday The surge in US consumer confidence for the month of September failed to put an end to this modest risk-off tone dominating the markets. The price action in the market remains within a very tight range.
Technical Analysis
Mr Riskoff sneaking around… so stronger dollar and jpy in the cards. AUDJPY broke lower passing a first important junction and more selling expected (the rest of the Yen crosses also on a slippery slope. EURUSD sliding towards the low end of the 233d ma band, 1.2845,
FX Market Technical Research
EUR/USD: Continuation Lower Remains Favoured. The slide towards the 200-DMA continues with the pair now having taken out the Sept 13 lows and triggering stops below the $1.2880-90 region.
GBP/USD Analysis
Closed in NY at $1.6196 after pulling back from a late recovery high at $1.6262 (had seen decreasing highs of $1.6267 and $1.6264 during the session) to a session low of $1.6181.
EUR/USD Analysis
Closed in NY at $1.2905 after rate had pulled back from session highs at $1.2971 to $1.2897 as rate tracked the negative reversal on Wall St, as well as reaction to anti-austerity protests in Spain.
Asian Currencies Technicals
AUD/USD: Another Dip Below The 21-DMA. The move towards the 200-DMA continues with the AUD/USD again spiking below the 21-DMA.
FX Market Analysis
EUR: Opened early Europe at $1.2937, Euro-dollar closed in NY at $1.2932, just off recovery highs of $1.2937 after rate had seen lows in this session of $1.2891.
FX G10 and EM Morning Trader Views
G10 EUR – Price action remains heavy having completed a series of six lower highs now. Support around 1.2890 is the next region to overcome and this should open a move to 1.2830 which is the 200dma and the 61.8% fib from 1.2626-1.3172 move.
FX Daily Strategist: Europe
– Political risks result in a modest risk-off tone at the beginning of the week USD strength continues to dominate as the market traded with a modest risk-off tone. The key catalysts behind the risk-off move include China-Japan tensions, uncertainty on whether Spain will seek external assistance, and a softer German IFO.
Technical Analysis
EURUSD remains on a near-term, and so far, correctional slide lower. Further losses should be penciled in as long as staying below 1.3048… GBPUSD looks toppish still, so do not underestimate the powers of a sub-1.6163 break…