Technical Analysis
Technical Analysis
Risk is a tad less off which holds corrections likely… EUR/USD Setup for modest correction… GBP/USD Challenging resistance above… USD/JPY SETUP FOR A 78.60/55 TEST… EUR/SEK Correction towards 8.66\71?…
FX Market Technical Research
EUR/USD: Recovers 5-DMA, But Studies Remain Weak. The EUR recovers the 5-day moving average, which turns initial support at $1.2230, but studies remain weak and bulls need to recover the 21-DMA to re-establish themselves.
Asian Currencies Technicals
AUD/USD: $1.0101-1.0330 range likely this week. Previous break below the 21 day ma was reversed sharply with the pair pausing at the 100 day ma.
Technical Analysis
USD/JPY to catch up with falling US bond yield… EUR/USD Losing momentum… USD/JPY Time to catch up with bonds… GBP/USD It was a bear fla… EUR/SEK Mid body test accomplished… USD/SEK Still in the doldrums… EUR/NOK Trying it below the line… NOK/SEK Bigger bounce than thought.
FX Market Technical Research
EUR/USD: Studies Remain Weak. The EUR is still under pressure amid weak daily studies and trade remains within the falling Bollinger band of $1.2145, allowing more room for bears to extend the $1.2168 low.
Asian Currencies Technicals
AUD/USD: Takes out the 21 day moving average. Back below the 21 day MA has seen initial focus shift to tests of the $0.9972-99 region with a close back above the 21 day MA needed to hint at $1.0100-1.0330 range trading ahead.
Technical Strategy: FX Trends daily (FOCUS: AUD/USD)
AUD/USD After hitting a high at 1.0330, the AUD/USD has resumed its decline and is testing a support at 1.0156 (23.6% retracement of May to July 2012 upward wave).
Daily FX Technical Strategy: Momentum points to higher dollar
Growth concerns dominated trading overnight. Low and falling US yields made no impact on the dollar which rose even against recently strong currencies like the AUD and KRW.
Technical Analysis
In general a stronger dollar emerging with especially CABLE, AUDUSD, NZDUSD seen as a sell. The yen also seems to be on a strengthening path. EURUSD a marginally new low has fulfilled at least our minium target of a fresh cycle low,
FX Market Technical Research
EUR/USD: Studies Remain Weak. The EUR is still under pressure amid weak daily studies but trade is back within the falling Bollinger band of $1.2185, allowing more room for bears to extend the $1.2212 low.
Asian Currencies Technicals
AUD/USD: July 5 highs in focus. The pair has popped above the 200 day MA following the bounce from ahead of pivotal support at $1.0158.
Global Technical Watch
The EUR continues to trend strongly lower on the crosses and intraday strength is repeatedly proving to be short-lived. The larger backdrop remains negative especially for some crosses such as EUR/SEK which is posting new lows not seen since 2000.