Forex Market
Technical Analysis
EURUSD drifting lower in a non trending mode, JPY is more than recovering yesterday morning losses, AUDUSD is making downside progress after the Thu-Mon top formation,
FX Market Technical Research
EUR/USD: Break Of Initial Support Favoured. The EUR/USD remains heavy as daily tech studies unwind their very overbought condition with the pair looking like retesting the Sept 14 lows.
GBP/USD Analysis
Closed in NY at $1.6221 after rate had recovered off extended lows of $1.6185 to $1.6236. Rate stepped its way back up to that $1.6236 in early Asian trade, as risk was given an early boost on release of stronger than forecast NZ data.
EUR/USD Analysis
Closed in NY at $1.3046 after rate had recovered from extended pullback lows of $1.2993 to $1.3076. Rate drifted higher in early trade, getting an added lift to session highs of $1.3059 as risk appetite was given a boost on release of stronger than forecast NZ GDP data.
USD/JPY Analysis
Dollar-yen closed in NY at Y78.38, having corrected back from its post BOJ easing announcement react high of Y79.22 to Y78.25 after reported stops through Y78.50-30 were triggered.
Global Technical Watch – Quick Charts (Sep 20)
The break lower in crude oil warns of further near-term weakness. In FX, this turns our attention to the CAD, where net speculative positioning has built up to historical highs.
Asian Currencies Technicals
AUD/USD: 200-DMA Test Remains Favoured. The AUD/USD continues to oscillate around the Ichimoku Cloud top ($1.0441) as it treads water just above the 21-DMA.
FX Market Analysis
EUR: Opened early Europe at $1.3070, Euro-dollar closed in NY at $1.3047 as rate recovered off session lows of $1.3029. A paring back of risk positions Tuesday saw rate extend its corrective pullback off Monday highs at $1.31729 to $1.3029.
FX Daily Strategist: Europe
– Bank of Japan extends asset purchases, but USDJPY may still head lower over the weeks ahead The Bank of Japan eased monetary policy on Wednesday. The action by the BoJ has been slightly more aggressive than expectations with the asset buying program having been extended by JPY10tr to 80tr.
Technical Analysis
EURUSD could extend losses towards 1.2970, but this draws no headlines – which USDJPY does better, while breaking the recent 79.04 high (on BoJ “QE”). Next target at 79.66 now in sight…
FX Market Technical Research
EUR/USD: Tech Studies And Trend Line Capping. It appears as though a combination of the long term falling trend line capping and now correcting very overbought daily RSI, Slow Stochastic, Momentum and DMIA studies are weighing on the pair and could see a push back towards the 200-DMA.
GBP/USD Analysis
Closed in NY at $1.6244 after rate had pulled back from session highs of $1.6267 to $1.6237 ahead of the close. Initial sales into Asia saw rate retest that late pullback low at $1.6237 before it recovered, meeting resistance around the $1.6245 level.