Technical Analysis
Currency Outlook: GBP – Slave to EUR fortunes
The market remains fixated by the euro crisis, ensuring that GBP largely takes its cue from EUR-USD. We examine five potential catalysts for this link to break. While there is much fiscal pain to come, there are not yet grounds for GBP to move independently of EUR-USD.
Technical Analysis: Aussie uptrend weakening
The first signs of a crack in the AUD-USD uptrend are coming through. Five waves down on the hourly chart warn of further losses to come. Gold also has a bearish wave structure and USD-TRY is poised for an upward reversal. Open interest in S&P 500 futures is falling despite the rally, warning that a […]
FX Market Technical Research
EUR/USD remains at the top of the 1.3280 range, leaving the dilemma over direction STILL unresolved. This move can be perceived as either a return to point of break out from the previous uptrend (see weekly chart on the next slide) or a break higher from a bull flag pattern.
Technical Analysis
Still an euro friendly environment with EURUSD remaining on a northern track, aiming ideally at the 1.34-area, EURJPY making a second attempt higher, holding potential for a 104.37 move, EURGBP forming a possible pressure cooker upside formation,
GBP/JPY Technical Analysis
(122,25)The GBP/JPY formed a negative day reversal but only a daily closing below 121,40 will confirm a s/t top. A move above 122,90 will instead support a direct extension of the move up toward the 200 days line at 124,46.
GBP/USD Technical Analysis
(1,5840)The CABLE confirmed our s/t target before plunging again lower while waiting for the MPC. The drop favoured a test of the 200 hours line at 1,5800 where it is finding decent support for now. The tone is still positive and this drop is corrective!
EUR/GBP Technical Analysis
(0,8397) EUR/GBP is confirming further consolidation interior the inside day with 0,8400 – 0,8270 still the levels to follow in the coming hours. The closing last night was again strong above the top of the previous session suggesting further strength.
EUR/JPY Technical Analysis
(102,70) The EUR/JPY confirmed another strong closing last night well above the top of the previous session supporting a test of the 100 days line at 102,90. The indicators of the daily chart are still well positive but already showing potential negative reversals and on top of that approaching the overbought area.
USD/JPY Technical Analysis
(77,18) The USD/YEN is still well bid supporting higher levels and this should favour an extension of the move up toward the 77,50 level. The indicators of the daily chart are still well positive supporting further strength.
EUR/USD Technical Analysis
(1,3300) The EUR/USD is confirming further strength already overshooting the 1,33 level on the way toward our target at 1,3351 if not even 1,3380!! The indicators of the daily chart are still well positive supporting further strength.
USD/CHF Technical Analysis
(0,9095) The USD/CHF confirmed in the last hours further consolidation interior the negative outside day with 0,9265 – 0,9100 still the levels to follow. It just broke below 0,9100 suggesting a test of our s/t target at 0,9077 with even a possible undershooting toward 0,9050.
EUR/CHF Technical Analysis
(1,2105) EUR/CHF is still well bid above 1,21 but it still failed to confirm the s/t target of the S_H_S formation at 1,2142!! The indicators of the daily chart are still in positive territory while those of the s/t ones are mixed suggesting some more consolidation in the s/t charts.