Technical Analysis
USD/JPY – small bull triangle suggest another thrust…to ~91
USDJPY solidified the end of a small correction with a rally to new highs yesterday. This sets our focus on our first upside target zone of 91.03/91.25 where 2 long-term extension targets align.
EUR/USD – consolidation ahead of push to 1.3425/3500
Yesterday’s rally found firm resistance just below the expected ~1.34 level. The five wave rally from 1.2998 is coming to an end with most if not all of the upside realized.
FX Technical Volume Strategy: EUR/NOK activity declines
Volumes surged again yesterday to make a new high for the past twelve months. This was supported by activity in USD, EUR, JPY, AUD and NZD, which were all at the highest level for the past year.
FX Daily Majors
Today’s highlights: – EURUSD: Market back probing the 1.3404 resistance hurdle. We expect trend continuation higher through here for 1.3487/93 chart/50% retracement resistance.
FX Trends daily (FOCUS: AUD/NZD)
AUD/NZD The cross has sharply bounced yesterday but failed to clear the key short term resistance at 1.2660. In this context, a resumption of the downtrend is likely,
EUR/JPY Technical Analysis
(120,50) The EUR/JPY confirmed a strong closing above the 120,16 level suggesting a direct extension of the move up toward next s/t target at 121,69.
Global Technical Watch – Start-of-year trends resume
The S&P broke to a new high not seen in over five years, triggering a renewed bout of optimism across assets. Copper rebounded from two-month trendline support and even Treasuries sold off ahead of resistance near 1.80%.
Technical Alert
Key stories remains the stronger euro and the weak jpy and gbp. Precious metals made a substantial move higher. EURUSD failed to make the down and up move (became an up only one…) and
USD/CHF Technical Analysis
(0,9370) The USD/CHF is also extending its move up suggesting a possible test of the 200 days line at 0,9434 where we expect some resistance.
GBP/USD Technical Analysis
(1,5975) The CABLE confirmed a test of the important support line at 1,5955 where it found good support for now. Still possible an undershooting that will favour a test of the 200 days line at 1,5910.
EUR/GBP Technical Analysis
(0,8377) EUR/GBP confirmed further strength suggesting a direct 0,8400 overshooting where we expect however good resistance.
AUD/USD Technical Analysis
(1,0525) The AUSSIE is still confirming further consolidation interior the big inside day with 1,0615 – 1,0480 still the levels to follow in the coming hours.