Technical Analysis
EUR/USD – The break above 1.3673/76 opened limited upside to 1.3877
Following the defense of key-support at 1.3477 (2014 low) the market finally managed to clear key-resistance at
EUR/USD Technical Analysis
EUR/USD has rallied strongly higher to test the 55 day ma at 1.3699, notes Commerzbank.
Daily Technical Report
EUR/USD has broken to upside out of itshorizontal range defined by 1.3503 and 1.3677. The short-term bullish momentum is intact aslong as the hourly support at 1.3651 (previousresistance) holds.
€ at/close to a potential turning point. SEK reaction.
EURUSD: The first step of yesterday’s outlined scenario, the move upto 1.3678/86, has been taken so now it remains to be seenwhether the second one,
Daily Market Technicals
Recent bullish pressure resulted in a break and close above the 200-DMA on Monday with the ERU/USD now hesitating ahead
Aussie Currencies Technicals
AUD/USD dipped below the previous $0.9404 support before bounce sharply from ahead of the 21-DMA and rising daily channel base off June monthly lows.
EUR/CAD – Above 1.4482, the start window for a 5th wave advance remains open
Having overshot the crucial Fib.-retracement at 1.4582 (int. 38.2 %) only marginally we still see
EUR/GBP – A range breakout between 0.7959 & 0.8079 is needed for directions
Having already exceeded the internal 76.4 % retreatment at 0.8005 quite a bit, chances of running into
GBP/USD – Below 1.7063 the setback risk remains high
The market failed once more to break decisively above key-pivotal resistance 1.7044/49 (2009 high/2005 low) on
EUR/USD – Unchanged! Below 1.3673/76, the market remains vulnerable
The market has managed to trade away from key-support at 1.3477 (2014 low) which supports our view that a stronger bounce (wave 2 or wave B) could be looming.
GBP/USD Technical Analysis
In GBP/USD, Commerzbank suspect that we will see major resistance at 1.7041/51 retested, these represent the 2009 high and the 2005 low.
EUR/USD Technical Analysis
EUR/USD held steady to slightly higher last week, and the market is approaching our first corrective target at 1.3670 (the 200 day ma is also found here at 1.3672), notes Commerzbank.