Forex Trades
Technical Analysis – FX Daily Majors
Today’s highlights: USD/JPY: Bullish “outside” Wednesday and follow-through gains this morning underscore a small basing to aim through 81.07 towards 82.24/28, chart/200-day MA hurdles GBP/USD: Violation of the “Head & Shoulders” neckline warns of a more important top and points down through the 200-day MA, 1.6031 to the 1.5751/5645 area
Technical Analysis – FX Daily Majors
Today’s highlights: EUR/USD: “Inside” Monday resilience to push through modest 1.4344 hurdle today for a neutral theme. Above 1.4498 needed to turn the tone more constructive though GBP/USD: Recovery from the vicinity of the Head & Shoulders neckline (now 1.6119) rejects a more bearish quarter-end theme and looks to recovery targets at 1.6444/72
Technical Analysis – FX Daily Majors
Today’s highlights: EUR/USD: Faltering ahead of 1.4552/64 barrier negates mini-base with plunge to a new setback low. Risk now to firmer support at 1.4125. USD/JPY: Mini-base and short-term bull trend reversal secured to aim at 81.78 this week with latter June threat up to the 82.24 peak and 200-DMA, now 82.40.
Daily Market Technicals – Euro is seen to slip further still
EUR/USD remains short term negative and now probes the 2011 uptrend line at 1.4178. Once fallen through, a slide to the 1.4010/1.3968 support area, which represents the 200 week moving average and the May low, should unfold.
Westpac – Top trades for Q3 2011
Westpac’s view is that softer energy and other commodity prices will provide some support to real incomes and encourage OECD growth to gradually stabilise and begin to recover over the course of Q3.
Daily Market Technicals – EUR/CHF in new lows
EUR/CHF has sold off into new lows and is approaching the psychologically important 1.20 support. The market looks set to reach the base of its 3 year down channel at 1.1950/65. While we would allow for this to hold the initial test, we are not hopeful about reversal here. Slightly longer term we have point […]
Technical Analysis – FX Daily Majors
Today’s highlights: GBP/USD: Solid recovery highlights respect for critical trend/neckline support factors below at 1.6177/1.6102. We still look for these to hold through mid-June USD/CHF: Mini-base dismissed by bearish “outside” pattern. Whilst below .8548 risk is for bear extension through .8326 to .8125