Forex Market

FX Market Technical Research

EUR/USD: Breaks Above Fibonacci Level. Euro has broken above 61.8% retracement level at $1.2445 and now tests a resistance line at $1.2489.

GBP/USD Analysis

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).

EUR/USD Analysis

Closed in NY at $1.2470 after recovering from pullback lows of $1.2457 having seen extended highs earlier in the session of $1.2488 on continued euro short covering.

Asian Currencies Technicals

AUD/USD: Aug 14 highs pivotal resistance. The bounce in the AUD/USD fell short of the Aug 14 highs with above this level still needed to see focus shift back to retests of 2012 highs.

 Sentiment recovers as expectations of ECB response persist; USD hurt A more risk positive tone has come through today with european equities higher with financials outperforming, the catalysts being good Spain bill auctions (much lower yields) and a UK Telegraph story putting more weight behind yesterday’s story the ECB was looking to target peripheral […]

FX Daily Crosses

Today’s highlights: * EURGBP: A choppy sideways range continues to dominate nearterm, but and we remain biased for a test of .7790 ahead of .7755/40.

FX Market Analysis

GBP: Opened early Europe at $1.5725, stg0.7860, GBP closed in NY at $1.5711, having recovered off NY lows of $1.5683 (saw $1.5678 earlier in Asia).

FX Daily Majors

Today’s highlights: * EURUSD: Challenging 1.2383/7/8 resistance cluster. We highlight that an upside break above here completes a minor base with risk higher to 1.2444/79.

FX Market Technical Research

EUR/USD: Breaks Above 55-Day Moving Average. Euro has broken above the 55-day moving average at $1.2391 and close above here is the next crucial test.

European FX Daily

* Stronger equities and a weaker USD in Asian trading * RBA minutes solidly in line with the monetary policy statement * Spain to sell bills today

Technical Analysis

Scandies still look strong. Spanish yields turn sour… EUR/USD Bearish contracting range… USD/JPY Re-checking support… USD/CAD Losing momentum? EUR/SEK Focus on key ref at 8.2020… USD/SEK Confined to range…

GBP/USD Analysis

Closed in NY at $1.5711, having recovered off NY lows of $1.5683 (saw $1.5678 earlier in Asia Monday). Rate initially dipped back to mark early Asia lows at $1.5705 before edging higher, the move up aided by a boosted risk appetite led by Aussie and following the release of RBA Minutes.