Forex Market
Technical Analysis
EUR/SEK, EUR/NOK & EUR/AUD corrections could be expanded… EUR/USD More sideways “action”… EUR/SEK Correctional forces at play… EUR/AUD Correcting towards ~1.1800\50… EUR/NOK Testing resistance at 7.34\35…
FX Market Technical Research
EUR/USD: Focus on Fibonacci Level, 21-DMA. The daily stochastic study forms a bear-cross, while 10-day momentum is flirting with the zero line, keeping bear’s attention on the 21-DMA, which rises to $1.2274.
GBP/USD Analysis
Closed in NY at $1.5684 after pulling back from a late Europe high of $1.5717. Rate pressed on support at $1.5680 into early Asia, eventually breaking below, as it tracked early EUR/USD slippage (prompted by Tokyo EUR/JPY sales), trading to a low of $1.5675.
EUR/USD Analysis
Closed in NY at $1.2332 after settling back following its rally extension to $1.2374. Rate crept up to $1.2337 in early Asia before Tokyo sales of EUR/JPY squeezed rate down to $1.2325, retesting the NY lows at this level which cushioned the move.
Asia today: EUR sees renewed short-covering; NZD pops, retreats
There was a slightly better mood for risk and risk currencies in today’s Asian session as the EUR consolidated it overnight gains.
Asian Currencies Technicals
AUD/USD: Double daily bottom with stops below. A double daily bottom is now in place just below $1.0500 with stops noted below. Overall we continue to look for a move below the Aug 2 lows to confirm an end to the move higher and see focus shift back to tests of 200 and 100 day […]
FX Daily Strategist: US
* EUR recovery hostage to politics and data EUR has continued to hold up well despite a barrage of negative headlines from politicians in the euro area. The price action plays to our view that EUR/G4 crosses (EURUSD, EURUSD and EURJPY) are more vulnerable to upside surprises on a 4-6 week view.
GBP Analysis
Opened early Europe at $1.5670, stg0.7846, GBP closed in NY Friday at $1.5690 after spiking back from a low of $1.5570 to $1.5701. Rate consolidated this correction in Asia with trade contained within a relatively tight $1.5562/84 range, opening Europe around $1.5570.
EUR Analysis
Opened early Europe at $1.2295, EUR/USD closed in NY Friday at $1.2289 after seeing a late spike that took rate from $1.2242 to $1.2317.
JPY Analysis
Opened in early Europe at Y78.29 and Y96.18 Opened in Asia at Y78.25 on a quiet tone and largely ignored weaker than expected Q2 GDP data which came in at 0.3%.
FX Daily Majors
Today’s highlights: * EURUSD: Correction holds above key 1.2200/09 support zone keeping short-term upward trend intact for now. We remain positive over the short term for 1.2598.
FX Daily Crosses
Today’s highlights: * EURGBP: The break of trend support now at .7955 keeps the bias lower to .7790 ahead of .7755/40. * EURJPY: The focus turns to trend support at 95.90. Capitulation through here would see bearish forces mount for 94.92 ahead of 94.11.