Forex Market

FX Market Technical Research

EUR/USD: Pushing Out of Bollinger Band. EUR/USD has made a significant break above the 61.8% retracement level and also the June resistance line as daily studies turn higher.

GBP/USD Analysis

Closed in NY at $1.5876, just off post FOMC Minutes react highs of $1.5882, the rate having seen lows earlier in the session around $1.5770.

EUR/USD Analysis

Closed in NY at $1.2529 after rate had been driven to extended recovery highs of $1.2539, from earlier session lows of $1.2431, following the release of dovish FOMC Minutes.

Asian Currencies Technicals

AUD/USD: Bounces from Aug 17 lows. The pair has managed to find support ahead of the Aug 17 lows as initial focus remains on retests of the 200 day moving average ($1.0297).

EUR crosses hold onto overnight gains What happened overnight * Japan reports a worse than expected trade deficit in July * South Africa CPI data fails to show impact of higher food prices * We recommend short-dated USDJPY RKI risk reversals

FX Daily Strategist: US

*Political events in Europe to further restore confidence in the EUR The EUR has held onto Tuesday’s rebound but is currently struggling to break above a key technical resistance level at 1.2478 (the 61.8% Fibonacci Retracement level).

FX Market Analysis

GBP: Opened early Europe at $1.5790, stg0.7896, GBP closed in NY at $1.5783, after recovering off pullback lows of $1.5773, seen after rate had pulled back from extended highs of $1.5805 (this move taking out barrier interest at $1.5800).

FX Daily Crosses

Today’s highlights: * EUR/GBP: The recovery bounce has extended, but we look for .7934/64 to cap to maintain the medium-term downtrend. * EUR/JPY: The push above 98.77 keeps the immediate risks higher to 100.72 where we would expect renewed selling.

FX Daily Majors

Today’s highlights: * EURUSD: Threatening the 1.2479 61.8% Fibonacci retracement hurdle after yesterday’s aggressive rally through 1.2383/7/8 resistance zone.

European FX Daily

* Risk currencies and equities down, but EUR and JPY stable * FOMC minutes unlikely to bring clarity

FX Daily Strategist: Europe

* Political events in Europe should further restore confidence in the EUR The EUR held onto its Tuesday recovery throughout the remained of the New York and Asia trading sessions, but the lack of a rebound in the commodity currencies and large moves in EURAUD, EURCAD and EURNZD reflects that much of the move likely […]

Technical Analysis

Euro short squeeze, but beware looming risk off mood… EUR/USD Triangle setup overruled… USD/JPY Buyers at support… EUR/SEK Correctional peak still wanted… USD/SEK Still confined to range… EUR/NOK Some focus on the recent high… NOK/SEK Rechecking the 55day EMA.