Technical Analysis
USDJPY – symmetry target at 91.30 then shallow correction
The expected choppy range in USDJPY resolved in short order and did not form the coil we posited on Wednesday.
FX Daily Crosses
Today’s highlights: – EURGBP: Aggressive rally continues higher, with the market now probing the .8507 hurdle. Above here sees the 61.8% retracement hurdle of .8577.
FX Daily Majors
Today’s highlights: – EURUSD: Probing the key range resistance zone at 1.3398/1.3404 after the rebound higher from 1.3264. We highlight however that a clear break above 1.3404 is needed for 1.3487/93.
Global Technical Watch – Scarce direction
FX markets are mixed with the USD torn between strength against the JPY and weakness against the EUR. Meanwhile, commodity currencies continue to lose ground:
Technical Alert
Another day of euro congestion seen yesterday but we are now on the verge of taking the next step higher. Sterling continues to be under pressure and so does the yen (after failing to complete a head and shoulders top).
USD/CAD Technical Analysis
(1.0030) The USD/CAD confirmed last night another strong closing even above the 200 days channel suggesting further strength, especially in case of a daily closing above 1,0060!!
AUD/USD Technical Analysis
(1,0460) The AUSSIE confirmed a weak closing well below the support of the inside day at 1,0480 suggesting further weakness. In the s/t however we expect a rebound,
EUR/GBP Technical Analysis
(0,8486) EUR/GBP is confirming further strength with the slope of the move up getting now a little too steep and dangerous possible at this point a 0,8500 overshooting where we expect however good resistance.
GBP/USD Technical Analysis
(1,5767) The CABLE confirmed a very weak closing well below the 1,5828 key level confirming therefore a double top formation and suggesting further weakness toward 1,55 and later 1,53!!
EUR/USD Technical Analysis
(1,3372) The EUR/DOLL confirmed a strong closing last night above the top of the previous session while however confirming also further consolidation interior the inside day with 1,3410 – 1,3265 still the levels to follow in the coming hours.
GBP/JPY Technical Analysis
(142,73) The GBP/JPY confirmed a nice rebound after the drop toward 139,25 that failed yet to abort the suggested S_H_S formation.
EUR/CHF Technical Analysis
(1,2430) The EUR/CHF confirmed again a strong closing above the top of the previous session; a daily closing above 1,2450 tonight could already confirm a s/t bottom supporting a retest of last week’s top!