Technical Analysis
FX Market Technical Research
EUR/USD: Bulls Focus on One-Year Trendline. The pair sees a bull-cross for the stochastic and momentum studies, turning bull’s attention to a one-year trendline at $1.3098.
FX Daily Majors
Today’s highlights: – EURUSD: Reversal on Friday from resistance found at 1.3074 ahead of the 78.6% retracement of 1.3093 turns the focus lower once again, with risk back to 1.2803/1.2740.
Daily FX Technical Strategy: Red alert for a weaker AUD
Bank holidays in Japan and the US should keep trading subdued today, but that is not a given. Late on Friday risk came under pressure with metals prices in particular falling, despite the problems in South Africa.
Global Technical Watch – Unable to hold gains
Friday’s price action in the S&P 500 was less than encouraging, as the market was capped by its Sep peaks and struggled into the close. The stronger mover was in US yields which snapped higher in range, back towards the 200-day average (1.81%).
Technical Analysis
EURUSD finally attracting sellers (above 1.30)? AUD under pressure with AUDUSD violating the Sept low, AUDJPY turning sharply lower from its minor correction, AUDCAD falling below its May low and more.
FX Market Technical Research
EUR/USD: Bulls Focus on One-Year Trendline. The pair sees a bull-cross for the stochastic and momentum studies, turning bulls attention to a one-year trendline at $1.3103.
Asian Currencies Technicals
AUD/USD: Focus On Sub-Parity Levels. Initial support is now confirmed at the double daily top from Oct 4 & 5 with multiple hourly failures noted at the $1.0270-75 region and stops now above.
FX Daily Majors
Today’s highlights: – EURUSD: Advance set to continue through 1.3048 interim resistance for a test of the 1.3172 high. – GBPUSD: Aggressive upside reversal suggests a return through 1.6274 to retest the 1.6310/20 longer-term resistance zone.
Technical Analysis
After the post ECB moves the market has been sidelined overnight. EURUSD looks like an hourly bull flag so looking for a 1.3044 move before stalling, AUDJPY seems to be in the latter stages or possible already turned the corner on its minor upside correction, seek a sell…
FX Market Technical Research
EUR/USD: Recovers 21-DMA to Test Fibonacci Level. The pair recovers from the $1.28035 low to break above the 21-DMA, which turns support at $1.2844.
Asian Currencies Technicals
AUD/USD: Potential For $1.0169-1.0323. The AUD/USD is hesitating ahead of the Sept monthly lows with a close above the Oct 1 highs needed to see focus return to retests of the Sept monthly highs.
FX Daily Crosses
Today’s highlights: – EUR/GBP: Break above .8010 resistance allows for risk up to .8101 trendline resistance and then .8115. Longer term we reiterate our .8263 target.