Forex Market
FX Market Technical Research
EUR/USD: Daily Studies Attempt Recovery. The pair holds close to the 5-DMA and 50% of it’s post-launch range, which combine at $1.2135.
GBP/USD Analysis
Closed in NY at $1.5496, off recovery highs of $1.5518 after rate had been knocked to intraday lows of $1.5459 following the release of poor 2Q GDP data.
EUR/USD Analysis
Closed in NY at $1.2155 after settling between $1.2145/60 following the rate’s short squeeze recovery through the day, extending its recent recovery off lows of $1.2042.
Asia today: Murmurings of more China stimulus? But risk slumbers
Today’s Asian session started favourably, with equity markets opening higher and risk currencies holding onto gains made last night, particularly versus the US dollar. However, with no fresh news or data to influence there was a lack of conviction to push risk higher.
Asian Currencies Technicals
AUD/USD: Bullish outside day reversal. A bullish outside day reversal for the AUD/USD yesterday sees immediate focus shift to further range trading within a $1.0180-1.0444 range and renewed hopes of a retest of $1.0444 July monthly high.
GBP Analysis
Opened early Europe at $1.5512, stg0.7784, GBP closed in NY at $1.5505 after recovering from a NY session low of $1.5489, easing off recovery highs of $1.5520 into the close.
EUR Analysis
Opened early Europe at $1.2075, EUR/USD closed in NY at $1.2060 after a late NY sell off saw rate trigger the reported barrier at $1.2050, touching a low of $1.2042 before recovering to $1.2070/75 on reported Asian sovereign buys ahead of the close.
JPY Analysis
Opened in early Europe at Y78.13 and Y94.29, USD/JPY opened in Asia at Y78.17 and headed lower to Y78.07 as JPY safe haven demand flow continued in thin markets.
Behavioral Finance: Daily Forex Outlook: Few solutions for the growth problem
EUR USD (1.2075) The eurozone seemingly re-entered full crisis mode this week. Investor concerns centre not only on the rising debt costs for Spain.
Daily FX Technical Strategy – One down, more to follow?
As yields in Italy and Spain start to rise sharply the spotlight appears to be shifting onto classical “risk” indicators. Yesterday NZD/USD completed a Head and Shoulders top and over the rest of the week we are watching to see whether other indicators like the AUD/USD and S&P500 follow the NZD’s lead.
GBPUSD set for test on UK GDP day
The pound has been enjoying “safe haven” status from the Euro for a time, but the risk of persistent risk aversion here and a weak UK GDP print could mean further weakening in GBPUSD.
FX G10 and EM Morning Trader Views
G10 EUR – Weak PMI’s, especially Germany, disappointed the market yesterday and built on the general increased bearish sentiment on Europe and European yields of the last 3 trading sessions –