Technical Analysis
FX Market Technical Research
EUR/USD: Pullback Through 21-Day Moving Average. The pair fails ahead of the one-year trendline, now at $1.3089, falling back through the 5 & 21-DMAs, which turn initial resistance at $1.2930/58 with support now at the 200-DMA of $1.2823.
Asian Currencies Technicals
AUD/USD: Bounce Fails Ahead Of Initial Resistance. The bounce from the Oct 8 lows remained capped by the 100-DMA overnight ($1.0259), coming in just ahead of the double daily top at $1.0274.
FX Daily Crosses
Today’s highlights: – EUR/GBP: Market posts a bearish outside day, suggests correction set to continue to .7978. Broadly, we still see risk higher through .8103/15 to .8115 and then ultimately .8263.
FX Daily Majors
Today’s highlights: – EURUSD: Trendline break exposes the key 1.2803 chart support level and then the 38.2% Fibonacci retracement of 1.2740. – GBPUSD: Testing the key 1.5959/60/66 support cluster. We look for a rebound from this support zone higher, back towards 1.6217. However, below would expose 1.5873/25.
FX Trends daily (FOCUS : GBP/JPY)
GBP/JPY After a recent rebound, the GBP/JPY reversed its trend and broke below a support at 126 which signals a likely extension of the downtrend in the coming sessions toward 124,83 then 123,86 (retracement of 61% of the uptrend between July and September).
Global Technical Watch – EUR pullback
Near-term signals favour further USD strength as the US dollar index is emerging above two-month channel highs. While EUR/GBP posted a Bearish Reversal Day against its 200-day average (resistance),
Technical Analysis
The euro got it on the chin (again) yesterday and finds itself in a group of underdogs, or perhaps as the leader of the pack… EURUSD is seemingly set to take out the monthly low of 1.2804 now…
FX Market Technical Research
EUR/USD: Pullback Through 21-Day Moving Average. The pair fails ahead of the one-year trendline, now at $1.3093, falling back through the 5 & 21-DMAs, which turn initial resistance at $1.2953/58 with support now at the 200-DMA of $1.2823.
Asian Currencies Technicals
AUD/USD: Spikes Below Bollinger Band Expected. After having taken out the Sept monthly lows the AUD/USD spent yesterday trading sideways below the initial resistance at $1.0274.
FX Daily Crosses
Today’s highlights: – EUR/GBP: Stalling at .8100 trendline resistance. We expect corrective weakness to find support at .8025. The bias remains broadly higher through .8115 to .8157 then .8263.
FX Daily Majors
Today’s highlights: – EURUSD: ‘Evening star’ reversal pattern turns the focus back on trendline support now at 1.2916. We expect a break below here for 1.2803/1.2740 support.
Technical Analysis
EURUSD fell back some yesterday and puts some pressure on supports below at 1.2935 & 1.2900/1.2875… The pound is under increasing pressure, both against the dollar and against the euro.