Technical Analysis
Daily Technical Report
EUR/USD continues to struggle after its Fridayintraday bearish reversal near the resistance at1.3699. Hourly supports stand at 1.3625 (intradaylow, see also 50% retracement) and 1.3583(22/01/2014 high).
EM corrections (not trend-benders) elsewhere mostly consolidation
EUR/USD: The ongoing decline from the recent high (1.3740) lookscorrectional. Intraday conditions would once again bebullish if/when the “B-wave high” at 1.3717 is taken out.
Daily Market Technicals
EUR/USD has stalled above the 38.2% of $1.3296-1.3893 at $1.3665 and daily studies become mixed – 10-day momentum study flatlines around neutral.
Weekly Forex & Interest Rate Outlook
The negative sentiment towards emerging markets should weigh on the NZD this week.That is despite NZ economic data pointing to an acceleration in growth (Chart 2),
Technician
EUR/USD: Momentum is roughly neutral. Consolidation on moving averages is most likely technical scenario.
Daily Technical Report
EUR/USD made an intraday bearish reversallast Friday near the resistance at 1.3699, whichfavours short-term caution. Hourly supportsstand at 1.3625 (intraday low) and 1.3583(22/01/2014 high).
Monitor the Yen. Sell cable and NOK.
EUR/USD: The, so far non sustained, break above 1.3700 indicates thatthe entire decline from 1.3894 might have been just a threewave downside correction hence suggesting that a newtrend high will be set in
Daily Market Technicals
EUR/USD zipped higher from the Sept 6 support line but then pared gains to leave a bearish looking candle with a long upper shadow, failure to close above $1.3700 adds further pressure lower.
Markets Outlook – Erring to a March Hike
Thursday’s RBNZ OCR Review is “live” for a rate hike. The economic rationale for it is overwhelming, in our view.
Daily Technical Report
EUR/USD moved sharply higher yesterday,breaking its declining trendline. A break of theresistance at 1.3699 would open the way forfurther strength towards the resistance at 1.3819.
Europe & yen in fashion, EMs are not & the dollar stands in the middle
EUR/USD: A huge bullish candle flew in from left field yesterdaybreaking resistance pockets near 1.3600 and at 1.3650 likenothing. The short-term key ref at 1.3700 is now up to thetest.
Daily Market Technicals
EUR/USD spikes higher to test the $1.3700 level where a number of previous highs and lows form resistance – now seen as initial res which capped yesterday’s large white candle.