Technical Analysis
Daily Technical Report
EUR/USD completely reversed yesterday’sstrength, warning of a potential false breakout ofthe strong resistance at 1.3893.
Sell €/$. Buy USD/NOK. Stronger yen in the pipe.
EUR/USD: Yesterday’s up-thrust peak (false break above a well definedtop resistance) outside the Bollinger bands has created anequally high probability bearish setup late Dec.
Daily Market Technicals
The relatively bearish close combined with O/B studies is a concern for bulls targeting the $1.4199-1.4247 region, with immediate focus shifting to key support in the $1.3824-34 region.
Asian Currencies Technicals
AUD/USD broke sharply above the $0.9000 level yesterday with the move initially heading above the 100-DMA before dipping given back most of the gains above the $0.9000 level which is seen as pivotal.
Daily Technical Report
EUR/USD has moved above the strongresistance at 1.3893. The technical configurationis positive as long as the support at 1.3834(11/03/2014 low) holds. An initial support lies at1.3896 (intraday low).
Weak USD. EUR/GBP upside progress. Kiwi testing next resistance
EUR/USD: Correction completed and a fresh high added and bulls aresmiling – and may do so for a while yet since ~1.40 lieswithin reach before stretching it again.
Asian Currencies Technicals
Following on from Tuesday’s close below the 21-DMA, the AUD/USD has consolidated below with the 55-DMA currently supporting. Consolidation below the 21-DMA sees bears in control and
Daily Technical Report
EUR/USD has weakened after failing to holdabove the strong resistance at 1.3893. Hourlysupports can be found at 1.3825 (28/02/2014high) and 1.3787 (36.8% retracement).
Weaker GBP, AUD, CAD, PLN & CNH, stronger NZD and possibly SEK
EUR/USD: In this near-term timeframe the decline looks correctionalcompared to the impulsive lift, testing 1.3915 last week.Acceleration through supports at 1.3834/26 is needed to think otherwise.
Daily Market Technicals
The dip back towards the $1.3824 support overnight eased the previous bullish focus and sees pressure on a break lower. A close below $1.3824 remains needed to hint at a deeper correction back to
Asian Currencies Technicals
The 100-DMA capped again on Tuesday with the AUD/USD breaking and closing below the 21-DMA. The close below the 21-DMA sees bears take control and
Daily Technical Report
EUR/USD has thus far failed to hold above thestrong resistance at 1.3893. Hourly supports canbe found at 1.3825 (28/02/2014 high) and 1.3708(05/03/2014 low, see also the rising channel).