Technical Analysis
Daily Market Technicals
EUR/USD: Bearish Key-Day Reversal – Risks Skewed Lower. Bearish key-day reversal pattern seen yesterday and inability to break above daily Bollinger band top (despite minor break above long-term resistance line from May 2011) – leaves risks skewed lower.
Asian Currencies Technicals
AUD/USD: Pair Heavy But Overall Focus Higher. The AUD/USD has managed to dip back below initial support but we will continue to look for a close below the Nov 20 low as confirmation of a break of the 21-DMA.
Market Spotlight: EURCAD fails at long-term downtrend
The market has failed at its long-term downward trendline and 200-dayMA for the second time. This hints at a top, with risk through 1.2649 to 1.2320.
FX Daily Crosses
Today’s highlights: – EUR/GBP: Consolidating after recent neckline break and push above the 200-day average at .8074. We see risk higher to long-term resistance at .8166. Above here signals a larger base, with risk up to .8221/63.
FX Daily Majors
Today’s highlights: – EURUSD: Prod above 1.3007 long-term downward trendline resistance, however, a sustained advance through here is needed to expose 1.3140/72 range highs.
Daily Market Technicals
EUR/USD: Breaks May 2011 Trend Line – Fibo Levels Cap. A minor break above long-term resistance line from May 2011 has been seen at $1.3000,
FX Technical Volume Strategy – USD/JPY upside potential
• Average volumes overall but yen volumes remain highly elevated. • JPY crosses occupying the top three currency pairs above their one-week average.
Global Technical Watch – Base joining precious
In addition to the strength in precious metals highlighted in our weekly Global Technical Trends, 26 November 2012, some of the base metals are also exhibiting bullish potential.
Technical Analysis
Highs have been attempted in EURUSD & AUDUSD after announcement of a Greek debt deal, but price action is already dubious and refs below at 1.2930 & 1.0425 are not safe…
Asian Currencies Technicals
AUD/USD: Narrow Consolidation To Start The Week. Narrow sideways trading continues following Friday’s break higher with a close back below the Nov 20 low currently needed to remove the bullish focus.
EUR/USD – daily channel, 2011 d/t align at 1.3027
The Euro resolved through our 1.2840 and then 1.2883 levels to complete a bullish base. Now a series of targets and resistance lie ahead anchored by the downtrend from 2011 and the Oct/Nov flag resistance line at 1.3027.
FX Daily Crosses
Today’s highlights: – EUR/GBP: Consolidating after recent neckline break and push above the 200-day average at .8074. We see risk higher to long-term resistance at .8166.