Tag Archives: EUR/USD
JPY weakens apace on politics. Weak US data ahead of FOMC minutes
The political situation in Japan squeezes fresh longs and has bears desperate to put back on their JPY shorts – but we could get lots more two-way volatility if risk appetite stays in the dumps here.
FX Daily Majors
Today’s highlights: – EURUSD: Rebounding from support found at 1.2662 and threatening trendline resistance located at 1.2742. We look for a break above here and extension towards 1.2877, which should then cap.
FX Daily Strategist: Europe
– Japanese politics pushes USDJPY higher…..an opportunity to sell Japanese news agency Kyodo reports that Prime Minister Yoshihiko Noda has stated that he wants to call an election for parliament’s lower house on December 16.
Technical Analysis
EUR/scandies moving higher to re-check resistance… EUR/USD Correcting towards 1.2770… EUR/CHF Testing SNB’s resolve again… EUR/JPY Could re-check 102… EUR/SEK Bid in rangy environment..
EUR/USD Analysis
Greek headlines once again drove markets and euro-dollar closed in NY at $1.2705, the rate having recovered off pullback lows of $1.2670. Euro-dollar opened flat in Asia and headed higher on euro-yen demand ahead of the Tokyo fix, the rate extended gains to $1.2715 as risk appetite improved across the board.
Daily Market Technicals
EUR/USD: Consolidates Below 38.2%, Bulls Need Break Higher. The pair continues to retest the 38.2% retracement as resistance, slow stochastics is approaching oversold levels and daily studies are beginning to look neutral.
Asia Today: Oz consumer confidence high; Moody’s affirms rating
Currencies started the Asian session at similar levels to yesterday after the overnight gyrations and we held in relatively tight ranges. On the data front, Australian consumer sentiment rose strongly in November, jumping 5.2 percent on-month (the first gain in 9 months) as the index hit its highest level since April 2011.
EUR/USD – Wave 5 of C is completing a bullish wedge at 150dma
The 5-wave decline from 1.3140 has yet to signal a reversal higher. A hammer/doji today would confirm the pattern (one is in the process of forming).
FX Daily Strategist: US
– Strong CPI produces a GBPUSD bounce from technical support at 1.5851 The annual rate of UK inflation rose to 2.7% in October, up from 2.2% in September. The rise in education fees accounted for 0.3 percentage points of the rise, which still leaves a healthy 0.2 percentage of the increase explained by other factors.
FX Techs
At a glance: On hold EUR/USD also remained within a tight range yesterday which keeps the downside open for a straight extension to 1.2639 (daily breakout line), to 1.2542 (Fib.-projection) and ultimately to the key-T-junction at 1.2309 (int. 76.4 %). Only a break above 1.2806/17 (minor 38.2 %/200 DMA) would ease the down-pressure.
G10 FX Spot Commentary
EURUSD : Support – 1.2675 , 1.2650/40 , 1.2500 Resistance – 1.2740 , 1.2780/90 , 1.2880 , 1.2985 The Greece situation continues to fumble along making plenty of noise – now between Juncker (head of Eurogroup) and Lagarde (head of IMF), it still seem likely that a solution will be found in the near future, […]