Tag Archives: EUR/USD
Behavioral Finance: Daily Forex Outlook: Central banks await impulse from policy-makers
EUR USD (1.2525) During his testimony before the Congress Ben Bernanke stopped short of signalling an outright QE3, although he indicated Fed’s intention to act if eurozone deteriorates. In a similar fashion Mario Draghi too refrained from implementing a cut.
Daily FX Technical Strategy: Buy the rumour sell the fact
The release of US NFP last Fri triggered a wave of optimism and risk short covering. Gold was the first market to respond but yesterday it was sold aggressively and most of the gains extinguished. Concurrent events suggest a classic buy the rumour sell the fact pattern around hopes of a fresh round of US […]
FX Market Technical Research
EUR/USD has now hit our upside target at 1.2625, the January low. This has stalled the currency pair. A minor retracement back towards the 1.2500/1.2450 area should now be seen before the current retracement higher continues.
Technical Analysis
Spain’s fall from grace spurs another bear race… EUR/USD Correction target respected… EUR/SEK Failed upside move rouse bears… USD/SEK Enjoying “Ichimoku” support… EUR/NOK Another topside failure… EUR/PLN Deep correctional setback.
EUR/USD Analysis
Closed in NY at $1.2559, off a late pullback low of $1.2555 seen after Fed’s Bernanke disappointed markets by failing to hint at imminent QE3. Rate had seen a strong rally from $1.2540 to $1.2626 pre Bernanke on expectations, the risk-on rally also fuelled by the China rate cut.
Technical Analysis: Short Cycle Report: The trend is your friend
The bounce in “risk” is a natural part of the bear market cycle but the overall trend remains down for stocks and up for the US Dollar. EUR-USD has resistance between 1.2589 and 1.2623 but a bounce as high as 1.2824 cannot be ruled out. The S&P 500 has resistance between 1334 and 1340. Bond […]
Daily FX Technical Strategy: Short covering continues
A risk revival gathered pace yesterday as short covering continued across asset classes. Commodity currencies rallied on heavy volume and a completed Double Bottom in NZD/USD implies further marginal upside this week. USD/JPY is in the spotlight today as once again it attempts to close above its 21 day average, for the first time since […]
Technical Analysis
Correctional forces at play… EUR/USD Still near-term correctional… USD/JPY High in near-term resistance… USD/CAD Correcting a prior stretch… EUR/SEK Contesting near-term resistance… EUR/NOK Now targeting +7.67 (& +7.70)… USD/SEK Could still test the 21day EMA… EUR/PLN Zloty buyers in from left field.
EUR/USD Analysis
Closed in NY at $1.2570, off recovery highs of $1.2587 as risk was given a boost on market chatter of global stimulus plans. Rate initially squeezed down to $1.2565 before getting a fresh lift on release of stronger than forecast Australian employment data.
Asia today: AUD soars (again) after very strong employment data
The Australian economy is on a roll with another data set today that almost defies belief. After yesterday’s stunning GDP performance it was the turn of labour data to beat consensus estimates by a large margin. The Australian economy added 38.9k jobs in May, well above the flat reading expected, and it was difficult to […]
Behavioral Finance: Daily Forex Outlook: Only ECB can elevate the short-term sentiment
EUR USD (1.2515) With the Spanish government explicitly admitting that they will need help from European institutions to recapitalise the country’s banks, the eurozone crisis has yet again attained a new summit. The markets now expect an urgent short term solution to this development.
Technical Analysis
EUR/USD in waiting mood… EUR/USD Neither bullish, nor is it bearish… EUR/GBP Resistance respected… USD/JPY Probing +79 resistance… EUR/SEK Thinned market conditions… EUR/NOK Attempting to exit consolidation.