Forex Market
Technical Analysis
Waiting for the next event, FOMC. In the meanwhile EURUSD has remained close to yesterday’s peak still threatening the 1.3004 key resistance, USDJPY hovering a couple of points above the 77.65 June low (that we see taken out),
FX Market Technical Research
EUR/USD: Fast Approaching Key Resistance. Despite a brief dip below the 200-DMA overnight the uptrend remains firmly in play with the $1.3000 resistance level seen as the next major hurdle.
GBP/USD Analysis
Closed in NY at $1.6108, having seen highs intraday of $1.6131 before pulling back to $1.6081. Rate remained above $1.6100 through Asia, marked early lows at $1.6104 before edging higher through the session to $1.6125.
EUR/USD Analysis
Closed in NY at $1.2900 after pulling back from a session high of $1.2937 to $1.2884. Rate eased to an early low in Asia at $1.2896 before picking up fresh demand, the move up gaining some slight momentum as early predictions on the Dutch election result show a pro-Europe win.
Global Technical Watch – Quick Charts (Sep 13)
Commodity currencies are gaining ground, and NZD/USD, in particular, is respecting cloud support on both daily and weekly charts. The risks are for further gains, with the next hurdle to overcome at 0.8240.
Asian Currencies Technicals
AUD/USD: Targeting $1.0540-1.0640 region. The move higher continued as the pair took out the short term falling daily trend line off the Aug monthly highs.
FX Daily Crosses
Today’s highlights: – EUR/GBP: Range support at .7967/59 has held and our bias is for the recovery to extend to neckline resistance at .8045, with scope to the .8096 high.
FX Daily Strategist: US
– We target NZDUSD higher with QE3 yet to be priced in Risk-taking got another shot in the arm after the German constitutional court ratified the ESM with some conditions (as expected-more below) and also implicitly backing the two-pronged approach of the ESM/ ECB framework for euro area bond purchases.
FX Market Analysis
GBP: Opened early Europe at $1.6075, stg0.8007, Cable closed in NY at $1.6073 after rate eased off highs at $1.6085 to $1.6067. Rate eased to retest that NY pullback low but again found support here.
FX Daily Strategist: Europe
-USD weakness comes into play ahead of FOMC on Thursday…we target NZDUSD higher USD weakness has taken hold of the FX markets as investors position for a positive outcome from the German Constitutional Court and the announcement of Fed QE3 at the Thursday FOMC Meeting.
FX Daily Majors
Today’s highlights: – EURUSD: Uptrend persists higher towards our target 1.2975/95 pivotal resistance zone. Above would see a continuation to our next target, set at the 1.3284 chart hurdle.
European FX Daily
– Risk currencies and equity rallied – Japan machine orders better than expected – SGDNEER bandwidth may be narrower than we previously estimated What to watch for today EUR: Court ruling. The German constitutional court ruling today will be the main focus. The court will start reading the decision at 9:00 BST and will post […]