Technical Analysis
FX Daily Majors
Today’s highlights: – EURUSD: Acceleration higher brings market up towards the long term downward trendline spanning lower from 1.4944 – at 1.3074. Failure here see risk back to 1.2868 initially.
Daily FX Technical Strategy – EUR/USD short squeeze threatens trendline resistance
The market was short and caught EUR/USD last week, causing an impressive squeeze and turning attention this week to trendline resistance at 1.3045.
Technical Analysis
The common currency ended last week on a clearly bullish footing and will probably begin the current week in the same manner. There are however some important resistances on the horizon.
Daily Market Technicals
EUR/USD: Trades Near Upper Boll Band – Studies Bullish. The pair squeezes higher and above the key $1.2917 level, which is the 50.0% of the decline from $1.3172 to $1.2662.
Asian Currencies Technicals
AUD/USD: Focus Returns To Sept Monthly Highs. After remaining capped at the Nov 20 highs for most of Friday the pair close above this level which now sees focus shift back to retests of the Sept monthly highs.
FX Daily Majors
Today’s highlights: – USDJPY: Initial failure at 83.09/82.99 resistance zone. Despite this we remain bullish and expect to see an eventual upside break and extension higher through 85.54 to 87.57.
Daily Market Technicals
EUR/USD: Fibonacci & 55-DMA Next Resistance At $1.2911/17. The pair breaks above $1.2901 Fibonacci level — 50.0% of the decline from $1.3140 to $1.2662, but needs to clear above $1.2911/17, where former is the 55-day moving average and latter the 50.0% of the decline from $1.3172 to $1.2662.
Global Technical Watch – USD takes a step back
The run-up in USD/JPY is encountering important resistance near 82.70 (retracement) and also 83.10, which is potentially the edge of a large basing pattern formed over the past two years.
Technical Analysis
EURUSD violated the 1.2882 res, making going into today with a bid undertone (one more high?), USD index wave pattern suggesting an upside turn from 80.50,
Asian Currencies Technicals
AUD/USD: More $1.0290-$1.0420 To Come. Sideways trading continues for the AUD/USD with more $1.0290-1.0420 trading expected to end the week.
FX Daily Crosses
Today’s highlights: – EUR/GBP: Stuck within a range between .8067/78 resistance and .8006/9 support. The bias is shifting higher for a push through .8078 towards .8166.
FX Trends daily (FOCUS: GBP/NZD)
GBP/NZD After a rebound in the recent sessions, the cross failed to clear a key short term resistance line at 1.9648 which signals a possible downturn toward 1.9390 then toward the key support at 1.9240 (short term support line).