Technical Analysis
Bearish signs for €/$ and £. NOK/SEK higher
Some very interesting developments took place Friday creating possible turnaround patterns in EUR/USD, CABLE, EURGBP, NOKSEK.
Daily Market Technicals
EUR/USD continued to push up towards the $1.3711 reversal high of Jan 2013 – however 10-day momentum study has shown negative divergence since Sept 19.
NZ Fiscal “Drag” Signals Economic Stimulus
* A fiscal surplus for pork-barrel politics * Tuesday’s QSBO to indicate above-trend growth
Asian Currencies Technicals
AUD/USD paused at the Sept 20 high on Friday with initial support now noted on the hourly timeframe at $0.9420.
EUR/JPY Technical Analysis
(132,30) The EUR/JPY confirmed a positive closing but it failed to confirm the move above 133 finding good resistance around the resistance line, today found at 132,95.
EUR/GBP Technical Analysis
(0,8430) EUR/GBP confirmed another strong closing last night above the top of the previous session definitely confirming a s/t bottom.
EUR/CHF Technical Analysis
(1,2238) The EUR/CHF formed a negative day reversal while remaining interior the inside day with 1,2280 – 1,2205 still the levels to follow in the coming hours.
EUR/USD Technical Analysis
(1,3625) The EUR/DOLL confirmed another strong closing even above 1,3610 but not above the resistance of the positive outside day at 1,3620.
$ at or close to crucial levels, NOK/SEK reaction signs
EUR/USD: Even though we continued higher yesterday there are some signs of weakness below the surface (like hourly divergences, a completed or soon completed five wave rise from Sep 6 and more).
GBP/CHF Technical Analysis
(1,4525) The GBP/CHF confirmed a very weak closing well below the low of the previous few sessions supporting further weakness toward the 200 days line now found at
GBP/USD Technical Analysis
(1,6173) The CABLE confirmed a weak closing below the low of the previous few sessions suggesting further downside risk.
AUD/USD Technical Analysis
(0,9433) The AUSSIE confirmed a further session of consolidation remaining interior the inside day with 0,9460 – 0,9275 still the levels to follow in the coming hours.