Technical Analysis
FX Daily Majors
Today’s highlights: – EURUSD: The expected sell-off continues towards the flagged 38.2% retracement support level of 1.3310.
FX Technical Volume Strategy: EUR/USD selling interest increase
– Unlike previous periods of intraday weakness in February, the recent decline in EUR/USD was on stronger volume, indicating firm selling interest through 1.35.
GBP/USD Technical Analysis
(1,5730) The CABLE confirmed yesterday a rebound but overall it confirmed further consolidation interior the negative outside day with 1,5820 – 1,5620 still the levels to follow in the coming hours.
AUD/USD Technical Analysis
(1,0307) The AUSSIE confirmed another weak closing even below the 200 days line finding however good support above 1,0250 form it started a rebound.
Technical Alert
Corrections accross the board are now gaining momentum. Dollar on a lot more positive footing, € weakening, £ recovering after the January slump and some signs of JPY buying as well (AUDJPY for instance triggered its hourly head and shoulders top).
USD/JPY Technical Analysis
(93,33) The USD/YEN failed to confirm the previous day’s negative day reversal confirming the same closing after a test of the 93,10 area where it found however good support.
EUR/JPY Technical Analysis
(125,04) The EUR/JPY confirmed the previous day’s negative day reversal by a weak closing; a possible closing tonight below 124,50 will confirm a s/t top favouring a deeper correction toward 120,70 with even a possible undershooting to the support line at 118,90!!
EUR/CHF Technical Analysis
(1,2287) The EUR/CHF confirmed a weak closing but it did not follow the sell off we had in EUR/DOLL. While below 1,2335 the cross may remain under some pressure suggesting a retest of the 1,2260/ 50 support area!!
EUR/GBP Technical Analysis
(0,8518) EUR/GBP confirmed a very weak closing well below the lows of the previous sessions but also well below the support of the big inside day at 0,8545 suggesting further weakness and
USD/CAD Technical Analysis
(0,9981) The USD/CAD formed a positive outside day after a test of the 0,9930 level. We have now 1,0010 – 0,9920 the levels to follow in the coming hours.
USD/CHF Technical Analysis
(0,9173) The USD/CHF confirmed another positive closing, even a strong one above the resistance of the positive outside day at 0,9160 suggesting further upside potential.
EUR/USD Technical Analysis
(1,3415) The EUR/DOLL confirmed a very weak closing last night well below the support of the inside day at 1,3445 suggesting further downside risk toward the 1,3250/00 support area.