Technical Analysis
Daily Market Technicals
EUR/USD: Need Confirmation Of Close Above May 2011 Trend Line. Bulls are still attempting another break above the long-term resistance line from May 2011, but need to see confirmation with a close above this line.
Asian Currencies Technicals
AUD/USD: Drifting Back Towards 21-DMA. Lower daily lows the past four days see the AUD/USD remaining heavy and drifting back towards the 21-DMA.
EUR/USD – set to break flag/trendline at 1.3009…then >1.3170
Textbook pullback to 1.2883 (1.2880) is complete and now the focus shifts to the daily bull-flag resistance and 2011 downtrend line which both align at 1.3004 today.
FX Daily Crosses
Today’s highlights: – EUR/GBP: Approaching .8114 initial resistance. We expect the upward trend to continue higher through here to challenge neckline resistance at .8166.
FX Daily Majors
Today’s highlights: – EURUSD: Support found at 1.2880 results in a rebound back up towards the key long-term trendline resistance hurdle of 1.3010. Above here is needed to expose 1.3140/72.
Daily Market Technicals
EUR/USD: M/T Outlook Bearish Whilst Below 19-Mth Res Line. The recovery back above the 55-day moving average and subsequent hammer candlestick is seen as as red-herring and m/t risks still seen to the downside whilst below the long-term resistance line from May 2011.
Technical Analysis
Big intra range swings….EURUSD bearish key day reversal Tuesday followed by a long lower spike yesterday questioning the reversal candle,
Asian Currencies Technicals
AUD/USD: Bounces From Ahead Of Initial Support. The pair bounced from ahead of the $1.0420 level that previously capped with focus remaining topside on retests of the Sept monthly highs.
EUR/USD – pullback to recent breakout & 50% retrace at 1.2883/73
Yesterday‟s rally to the 2011 downtrend halted the string of rally days in the Euro. Both short and long-term trends remain positive and the pattern from September is still best interpreted as a “bull-flag”.
FX Daily Crosses
Today’s highlights: – EUR/GBP: Correcting back to throwback support at .8059. Whilst above trend support at .8027, however, the bias remains higher through .8114 to 8.166 and then .8221/63.
FX Daily Majors
Today’s highlights: – EURUSD: Failure at long-term trendline resistance of 1.3010 suggests weakness back to 1.2868 and then the 200-day average at 1.2800.
Technical Analysis
EUR/SEK traded distinctively higher yesterday and should test should test 8.6850 in the process. 8.63 should be supportive now…