Technical Analysis
Technical Analysis
Risk is off and the dollar and US bonds enjoy a safe heaven bid on behalf of the euro and EuroStoxx which are again punished in this environment… EURUSD failed no nail a low and could extend the slide – with the next key hurdle located at 1.1975 in mind…
FX Market Technical Research
EUR/USD: Holds Under 50% of Range. The pair holds below 50% of it’s post-launch range, at $1.2135, which may now offer some resistance.
Global Technical Watch – Quick Charts
The initial bearish signs, such as the Reversal Day in AUD/JPY we noted earlier this week, are snowballing. Further JPY gains are likely across the board, especially as US 10y yields threaten trendline resistance near 1.36%.
Asian Currencies Technicals
AUD/USD: Key support holds on the first attempt. The pair dipped below the 21 day MA overnight but bouncing on its first attempt from the $1.0200-30 region identified as key support with a medium term rising daily trend line off the June 8 lows continuing to support.
Daily FX Technical Strategy: A shot across the bows
The move in Spanish yields yesterday was a shot across the bows for Risk. While the prospect of contagion within the eurozone has risen with 10y Italian yields gapping higher out of range, yields outside Spain have not yet reached levels where the rise becomes self sustaining.
FX Trends daily (FOCUS : GBP/USD)
GBP/USD After a rebound in the recent weeks, the Cable has resumed its downtrend in the recent sessions. This trend should extend in the short term toward 1.5388/93 (last retracement of the uptrend between June 1 and June 20 and July 12 low pivot).
Global Technical Watch – Quick Charts
Increased fears are well reflected in the VIX Index, which popped higher yesterday. In line with this, even some orderly downtrends, such as EUR/AUD, posted Bullish Reversal Days.
Technical Analysis
EUR/USD reversed losses incurred yesterday and managed to claw into a close at opening levels. It could be an intermediate “wave-5 low” but more bullish price action is needed to add credence to this…
FX Market Technical Research
EUR/USD: Holds Under 50% of Range. The EUR holds below 50% of it’s post-launch range, at $1.2135, which may now offer some resistance.
Asian Currencies Technicals
AUD/USD: $1.0200-30 region seen as key support. The $1.0200-30 region is shaping up as key support for the AUD/USD with the 21 and 100 day MA’s and a medium term rising daily trend line off the June 8 lows all converging in this region.
Technical Analysis
The euro remains out of fashion with fresh EURUSD & EURJPY just scored. Heavy looking EuroStoxx50 and soaring 10y SPA/GER (& ITA/GER) spread(s) is a burden to carry.
FX Market Technical Research
EUR/USD: Breaks Under 50% of Range. The EUR breaks below 50% of it’s post-launch range, at $1.2135, which may now offer some resistance, as 10-day momentum weakens.