Tag Archives: EUR/GBP
Daily FX Technical Strategy: EUR/NZD all-time low in sight
With the USD Index locked in a ranging pattern, we expect trading to be subdued today by the US Independence Day holiday. Bigger picture we are USD bullish but this week listless sideways drift is the likely outcome ahead of the release of US NFP on Friday.
Technical Analysis
Mid body testing into its third session… EUR/USD Still mid body testing… EUR/GBP Bear triangle?… EUR/JPY So far bids at mid body… EUR/SEK In the key support zone… USD/SEK Still in a narrow range… EUR/NOK Mid body bounce.
Europhoria fades a bit as a new week dawns
Last week’s EU summit did offer surprises – but also poses questions. We’re also back to the grind of a fresh batch of ugly manufacturing data around the world, reminding us of the weak global growth predicament.
Will Bernanke deliver on this market’s expectations?
This market is ready to twist in shout ahead of tomorrow’s FOMC meeting and anticipation of the extension of the Fed’s easing. Tomorrow may set the tone for some time to come.
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
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.
Technical Analysis
The euro is given at least a breather… EUR/USD Coming out of the stretch… EUR/GBP Probing short-term resistance… EUR/JPY Attempting to clear the stretch… EUR/SEK Bearish engulfing candle added… USD/SEK Re-checking support area… EUR/NOK There is no easy way out of here… NOK/SEK At lower end of support zone.
FX Market Technical Research
EUR/USD has now dropped right through the 1.2457 March 2009 low and is on is way to the 1.2329/06 support zone. This consists of the 2008 trough and the 2001-12 uptrend line. Medium term the 200 month moving average at 1.2066 and the psychological 1.2000 mark remain in sight.
FX Market Technical Research
EUR/USD has continued to slide and has sold off to the 1.2457 March 2009 low. Despite the fact that the RSI has not confirmed the new low, despite the 13 TD combo count and the 5th of 5th wave count, the market continues to weigh on the downside.
FX Market Technical Research
EUR/USD saw a very tepid rebound on Monday. The new low of 1.2495 charted last week has not been confirmed by the daily RSI and this suggests caution here and some near term consolidation.
Technical Analysis
Europhobia prevails… EUR/USD Sellers responded again… EUR/JPY Soon at a fresh short-term low… EUR/GBP Sellers retain an upper hand… EUR/SEK Still respecting support… USD/SEK Bullish triangle (or flag)… EUR/NOK Support likely at range floor.
FX Market Technical Research
EUR/USD sold off all week and closed below the 1.2530 Fibonacci retracement (just). The new low has not been confirmed by the daily RSI however and this suggests caution here and some near term consolidation.