Tag Archives: EUR/USD
Behavioral Finance: Daily Forex Outlook: EU summit may yet deliver a modest upside
EUR USD (1.2510) Market expectations for any policy solution from the latest EU summit are exceptionally low. The general impression seems to be that the meeting will deliver a roadmap to the roadmap.
EURUSD pivot shifts lower
The EURUSD complacency seems to be fading – and before the EU summit has even introduced its first headline risks. Today’s swift move has shifted the resistance level for EURUSD a few notches lower now.
FX Open
All eyes on the EU summit and thematically, nothing really has changed. More position squaring, however, price action has not been enough to alter underlying trends; we remain unchanged in our view to FX and peripheral bond markets.
Technical Analysis
Not much to report except our bullish NOK/SEK call been proven wrong with the 1.1715 break. Other than that corrections/congestions still ongoing but seen as being in the latter stages.
EUR/USD Analysis
Closed in NY Wednesday at $1.2470, rate recovered from $1.2445 lows after the London fixings. The euro opened higher to $1.2480 in Asia, although volumes were very light, with many players on the sidelines ahead of the EU leaders summit starting later today.
Asia today: Markets surprisingly calm ahead of today’s EU summi
Currency markets were still in limbo mode during the Asian session ahead of today’s EU summit. We had a few more data points to focus on today.
Behavioral Finance: Daily Forex Outlook: German ‘No’ seems already priced in
EUR USD (1.2495) The euro slumped to its day-low yesterday after unconfirmed reports suggested that German Chancellor Merkel appears to have estimated her own longevity as higher than the probability of eurozone countries sharing debt liability.
Daily FX Technical Strategy: A growing sense of foreboding
Investors are watching and waiting ahead of the EU summit later in the week. What movement there is in markets suggests that expectations are becoming more pessimistic.
Technical Analysis
Only limited moves seen overnight and the market seems to have entered a short term congestion. EUR selling/USD & JPY buying is however expected to soon be resumed.
FX Market Technical Research
EUR/USD: Holds Under 21-Day Moving Average. The euro recently saw a bear-cross in the daily stochastic study and now slides under the 21-day moving average at $1.2532.
EUR/USD Analysis
Closed in NY Tuesday at $1.2495 after recovering from a session low $1.2442, pressured on comments suggesting German Chancellor Merkel had ruled out joint euro bond issuance for the foreseeable future.
FX Market Summary
The euro withstood the latest barrage of negative news Tuesday to trade nearly flat on the global session against the dollar. Twice during New York trading hours the euro was hit by disappointing news only to creep its way back to around the $1.25 level.