Tag Archives: EUR/GBP
FX Daily Strategist: Europe
FX markets stuck in ranges as vols continue to edge lower – despite stress signals elsewhere The lack of conviction in FX markets continues to frustrate, with moves seemingly confined to clearing out short-term stops. The inability to break out of recent ranges was nicely illustrated yesterday by the lack of reaction in EURUSD to […]
Technical Analysis
Dollar rally paused – not reversed. EUR/USD 1.2974 kept safe – for now… EUR/JPY Respecting support… EUR/GBP Fresh low rejected… EUR/SEK Near-term correction printed? USD/SEK Small setback to a bullish case… EUR/NOK Minimum “wave-C” target met… NOK/SEK Correctional grind (higher)… NZD/USD Bear flag ready to go.
FX Market Technical Research
EUR/USD is inching slowing higher, bouncing off the shallow support line at 1.3034, which connects the lows from February to the lows seen in March. Failure here should act as an early warning signal of losses to the more important support at 1.2974/54, the February low and 61.8% Fibonacci retracement.
Daily FX Technical Strategy: Hard asset breakout
Investors continue to take risk off the table as peripheral eurozone bond yields push higher. The S&P 500 index posted a fifth consecutive day lower, and commodity markets, in particular Brent crude and copper, have broken below important range lows.
Daily FX Technical Strategy: European concerns
European problems are not going away. Last week was the worst week so far this year for key US and European equities and the US and German rates markets responded accordingly with a bid. That the US/German yield spread is testing the lows of this year is a telling sign for Europe.
FX Market Technical Research
EUR/USD despite weak payrolls on Friday, the rebound on EUR/USD has been tepid at best and the market starts this week sitting just above the 1.3004 March low. Key short term support remains 1.2974/54, the February low and 61.8% Fibonacci retracement.
Daily FX Technical Strategy: S(PAIN)
Eurozone issues are coming back under the spotlight ahead of the long weekend. The spread between Spanish and German 10-year yields are testing the wides of this year and European equities, particularly the Spanish Ibex index are breaking lower.
FX Market Technical Research
EUR/USD continued to lose ground yesterday and has reached the short term support line at 1.3136. Failure here is expected and should be enough to refocus attention onto the 1.3004 recent low and then 1.2974/54, the February low and 61.8% Fibonacci retracement.
FX Daily Strategist: US
Awaiting a catalyst for EUR/cross sell-off EUR/crosses came under pressure today led by weaker Spanish auctions (2.5bn actual issuance vs. 4-6bn target) with a materially lower bid to cover compared to the 2015 issue (2.4 vs. 5.0). The ECB decision and press-conference (1245, press conf. 1330 London time respectively) is due next.
Speculative Positions
JPY net speculative position lowest since June 2007 SEB Risk appetite index (RAI) RAI roughly unchanged week on week and thus still within the risk neutral zone and contained in an upward channel.
Technical Analysis
EUR/USD Short term still unclear… AUD/USD Completed corrective bounce… EUR/JPY Bull triangle or triple top… EUR/SEK Well, that’s a better one… USD/SEK Enough? EUR/NOK Correction unfolding… NOK/SEK First step higher taken… EUR/GBP Steering back into the high-0.82s
FX Market Technical Research
EUR/USD remains capable of testing the top of the 7 month channel at 1.3442, this together with the February high at 1.3487 should provoke failure. The near term uptrend has been eroded and we should see the market ease back towards the 20 and 55 day ma at 1.3210/1.3174.