Forex Market
Technical Analysis
Extended corrections… EUR/USD 2nd attempt to form a peak… USD INDEX Spiking below the band?… EUR/JPY Ending another correction… EUR/SEK Easing the “stretch”… EUR/NOK Double low?… NOK/SEK Hovering above the line… EUR/PLN Broke to a fresh yearly low.
FX Market Technical Research
EUR/USD: Pressuring Bollinger Band, Fibonacci Level. The euro is back testing the top of the Bollinger band as bulls also face Fibonacci resistance at $1.2445 and $1.2478. The 5 & 21-DMAs turn support at $1.2245/95.
USD/JPY Analysis
Closed in NY Friday at Y78.55 after pulling back from a session high Y78.77. The Global rally continued and Asian equities opened on a bid tone and extended gains, USD/JPY lifted on the back of this to Y78.65.
GBP/USD Analysis
Closed in NY at $1.5640 after recovering from an initial post NFP react low of $1.5518 to a high of $1.5658 before settling between $1.5630/50 into the close.
EUR/USD Analysis
Closed in NY Friday at $1.2387 having rebounded from an initial NFP react low of $1.2219 to a high of $1.2392, settling between $1.2368/88 into the close.
Asian Currencies Technicals
AUD/USD: 21 day upper Bolli tests to continue. The pair continues to test the sharply rising 21 day upper Bollinger band with the Mar 19 highs the initial focus and then the 2012 highs from Feb 29 above that.
EURUSD: bears can’t get no satisfaction?
EURUSD squeezed higher into the two key central bank meetings this week until we saw yesterday’s climactic reversal. But so far we’ve seen zero follow-through. Should the EURUSD bears be worried?
GBP Analysis
Opened early Europe at $1.5515, stg0.7847, GBP closed in NY at $1.5515 after rate had seen a spike high of $1.5680 into ECB Draghi’s press conference, only to drop back to $1.5490 as comments failed to live up to market expectations for euro support.
JPY Analysis
Opened in early Europe at Y78.20 and Y95.30, USD/JPY slipped in early Asia as equities opened sharply lower, macro account supply added weight and the pair printed Y78.07.
EUR Analysis
Opened early Europe at $1.2175, EUR/USD closed in NY at $1.2180, off lows of $1.21335, following a whippy session driven by ECB Draghi’s press conference which had seen rate spike to $1.2406 on anticipation of announced euro support.
Technical Analysis
Hello Mr. Riskoff – ECB failed to deliver what was “demanded”… EUR/USD A correctional high in place… EUR/GBP Correctional high at resistance… EUR/SEK Lower yes, but also “wedgy”… USD/SEK Weak attempt under support… EUR/NOK Fresh low likely… NOK/SEK Could correct the stretch.
FX Market Technical Research
EUR/USD: Mixed Daily Studies. The pair is back under the 21 and 5-day moving averages of $1.2230/34 as the daily stochastic study turns weaker but 10-day momentum attempts to recover the zero line.