Tag Archives: EUR/USD
Technical Analysis
EUR eroding support, bonds point at risk aversion… EUR/USD At the mid body support… EUR/SEK Deeper into hourly divergence… NOK/SEK Impulsive setback… EUR/NOK Congestion… EUR/PLN Mixed signals.
FX Market Technical Research
EUR/USD: Tests 21-Day Moving Average. The pair tested Fibonacci level at $1.2445 before pulling back. The daily stochastic study remains firm, but 10-day momentum is declining and forming a bear-cross as the euro faces the 21-day moving average at $1.2266.
EUR/USD Analysis
Closed in NY at $1.2304 after recovering on reported light short covering from session lows of $1.2266.
Americas FX Daily
Australia data help EUR-funded risk trade What happened overnight * Australia jobs data better than expected; NZ worse * China growth data weak but inflation leaves room for easing * BOJ and BOK leave policy unchanged
EURUSD falls back after failure to take out resistance
EURUSD dropped to just below 1.2300 today as the overhead 1.2400/50 resistance remains in place. GBPUSD fades after yet another upside attempt on its second-worst trade deficit reading ever.
FX Daily Majors
Today’s highlights: * EURUSD: Market holds the 38.2% retracement support at 1.2326. We expect the market to continue higher through 1.2444 to 1.2598 78.6% retracement resistance.
Risk rally, tortoise-style
Softer Chinese data are probably not soft enough to de-rail the risk rally * Asian data and news grabs overnight headlines. The Bank of Korea left rates on hold after last month’s surprise cut, and the won gained slightly. Chinese data come out slightly softer than expected as the slowdown continues.
FX Daily: Fundamental and technical support for carry
* On a technical level carry looks attractive as our Style Allocation Model (SAM) indentifies a “risk on” environment and carry needs to catch up with the equity market.
UK Inflation report can keep pressure on sterling
The risk rally is progressing slowly. Sell GBP/CAD ahead of the inflation report? * The highlight of today’s news and data will be the UK Bank of England inflation report. Inflationary pressures are easing, the economy is weak, bank lending is soft, and the MPC is dovish.
Technical Analysis
AUD/NZD breaking higher, NOK/SEK firming… EUR/USD Another neutral doji candle… AUD/NZD Returning upside pressure… EUR/SEK 8.3025 support intact… NOK/SEK Breaking higher… EUR/NOK Mid body support cleared… EUR/PLN Watch the 4.0855 resistance.
EUR/USD Analysis
Closed in NY at $1.2397 after rate had extended its recovery off European morning lows of $1.2376 to $1.2443, falling just short of Monday’s highs at $1.2444, with protection of the much reported barrier at $1.2450 countering.
Technical Analysis
€ & other corrections running out of steam… EUR/USD Encouraging doji candle… USD/CAD A possible bullish setup… EUR/JPY Eyeing the mid body point… EUR/SEK Sellers close to the 8.38 res… USD/SEK An area worth watching… EUR/NOK Watching the mid body point… USD/PLN In the primary target zone.